What should be the stamp duty for equitable mortgage, hypothecation

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For equitable mortgage,
Agreement relating to deposit of title-deeds, pawn or pledge, that is to say, any instrument evidencing an agreement relating to-
(1) the deposit of title-deeds or instruments constituting or being evidence of the title to any property whatever (other than a marketable security); or
(2) the pawn or pledge of movable property, where such deposit, pawn or pledge has been made by way of security for the repayment of money advanced or to be advanced by way of loan or an existing or future debt-
(a) if such loan or debt is repayable on demand or more than three months from the date of the instrument evidencing the agreement. The stamp duty is as following:
where payable otherwise than on demand-
(i) Where payable not more than three months after date or sight-



if the amount of the bill or note does not exceed Rs.500;
One rupee 115[twenty-five naye paise]


if it exceeds Rs. 500 but does not exceed Rs. 1,000; - Two rupees 116[fifty naye paise]


and for every additional Rs. 1,000 or part thereof in excess of Rs. 1,000; - Two rupees 116[fifty naye paise]


(ii) where payable more than three months but not more than six months after date or sight-

if the amount of the bill or note does not exceed Rs. 500; - Two rupees 116[fifty naye paise]

if it exceeds Rs. 500 but does not exceed Rs. 1,000; and for every additional Rs. 1,000 or part thereof in excess of Rs. 1,000; - Five rupees


(iii) where payable more than six months but not more than nine months after date or sight-
if the amount of the bill or note does not exceed Rs. 500; - Three rupees 117[seventy-five naye paise]

if it exceeds Rs. 500 but does not exceed Rs. 1,000; - Seven rupees 116[fifty naye paise]

and for every additional Rs. 1,000 or part thereof in exceeds of Rs. 1,000; - Seven rupees 116[fifty naye paise]


(iv) where payable more than nine months but not more than one year after date or sight-
if the amount of the bill or note does not exceed Rs. 500; - Five rupees

if it exceeds Rs. 500 but does not exceed Rs. 1,000 - Ten rupees

and for every additional Rs. 1,000 or part thereof in exceeds of Rs. 1,000; - Ten rupees


(c) where payable at more than 1 year after date or sight-
if the amount of the bill or note does not exceed Rs. 500; if it exceed Rs. 500 but does not exceed Rs. 1,000;
and for every additional Rs. 1,000 or part thereof in excess of Rs. 1,000; - Ten rupees;Twenty rupees;Twenty rupees

14. Bill of lading (including a through bill of lading). - 118[Two rupees]


(b) if such loan or debt is repayable not more than three months from the date of such instrument.
Half the duty payable in above case.

Also, stamp duty paid for hypothecation deed differs from state to thus, kindly mention from where you are.

Advocate Siddhant Sharma LawRato