State Act

THE KARNATAKA STAMP ACT, 1957

1[29. Direction as to duty in case of certain conveyances.- Where a sub-purchaser takes an actual conveyance of the interest of the person immediately selling to him, which is chargeable with advalorem duty in respect of the market value of the property which is the subject matter of conveyance and is duly stamped accordingly, any conveyance to be afterwards made to him for the same property by the original seller shall be chargeable with a duty equal to that which would be chargeable on a conveyance for the market value of the property which is the subject matter of the conveyance or where such duty would exceed ten rupees, with a duty of ten rupees.]1