Stamp Act 1949 · Updated to 1 Jan 2026 · Part III · Provisions Applicable to Particular Instruments
24. Leases, how to be charged in respect of produce, etc.
Feedback & supportWhere the consideration or any part of the consideration for which a lease is granted or agreed to be granted consists of any produce or other goods, the value of the produce or goods shall be deemed a consideration in respect of which the lease or agreement is chargeable with ad valorem duty.
lease
“lease” means a lease of immovable property, and includes— (a) any undertaking in writing to cultivate, occupy, or pay or deliver rent for, immovable property; *NOTE―The Takaful Act 1984 was repealed by the Islamic Financial Services Act 2013 —see section 282…
Where it is stipulated that the value of the produce or goods is to amount at least to, or is not to exceed, a given sum, or where the lessee is specially charged with, or has the option of paying after any permanent rate of conversion, the value of the produce or goods shall, for the purpose of assessing the ad valorem duty, be estimated at the given sum, or according to such permanent rate.
duty
“duty” means any stamp duty for the time being chargeable under this Act or under any written law;
A lease or agreement for a lease made either wholly or partially for any such consideration, if it contains a statement of the value thereof and is stamped in accordance with the statement, shall, so far as regards the subject matter of the statement, be deemed duly stamped, unless or until it is otherwise shown that the statement is incorrect, and that the lease or agreement is in fact not duly stamped.
duly stamped
“duly stamped”, as applied to an instrument, means — (a) the instrument bears an adhesive or impressed stamp of not less than the proper amount or the amount of initial duty or the amount of advance duty paid under subsection 37(1) and that such stamp has been affixed or used in accordance with the law for the time being in force; (b) any official receipt for the proper amount or the amount of initial duty or the amount of advance duty is affixed to the instrument; (c) a stamp certificate for the proper amount or the amount of initial duty or the amount of advance duty is attached to the *NOTE―The Securities Industry Act 1983 was repealed by the Capital Market and Services Act 2007 —see section 381…