Articles 15 explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
Article 15 is the base Article for a bond. Five other Articles borrow its duty: the bottomry bond (Article 16), the customs bond (Article 26), the indemnity-bond (Article 34), the respondentia bond (Article 56) and the security bond or mortgage-deed executed as security (Article 57). This article sets out each as the central Schedule prints it, with the exemptions, and flags where the copy prints the duty column out of line.
Article 15 charges a "bond" (as defined by section 2(5)), which is not a debenture and not otherwise provided for, on a scale of the amount or value secured. The other five Articles are charged by reference to Article 15 or to Article 57, which itself refers back to Article 15. The amounts below are what the central Schedule prints, in annas and rupees, and they are not the duty payable today: the duty on most instruments is fixed by the law and schedule of the State where the instrument is executed.
This article is based on the consolidated text of the Act consulted (latest amendment shown: Act 13 of 2021). Later amendments should be checked. Stamp duty on most instruments is fixed by the law and schedule of the State where the instrument is executed, so check that State's schedule; this article explains the central Act only. For the definition of "bond", see our article on the definitions of conveyance, bond, lease, mortgage-deed and settlement.
A note on how the copy prints the duty column
In the copy consulted the duty column slips out of line with the descriptions for several Articles in this group, notably Articles 26, 34, 56 and 57. The duties are printed in the right order but several lines above or below their rows. We have rebuilt them in sequence, and the official text should be checked. The copy also prints no Articles 1 to 4; the copy refers to "Administration Bond (No. 2)" in the cross-entry under Article 15, and we say nothing about its duty.
Article 15: the bond slab table
Article 15 is headed "Bond not being a debenture (No. 27) and not being otherwise provided for by this Act, or by the Court-fees Act, 1870 (7 of 1870)". The Court-fees Act reference is printed as it stands, and the reader should check the current law for the corresponding provision.
The amounts the central Schedule prints are:
| Amount or value secured | Proper stamp-duty as printed |
|---|---|
| Does not exceed Rs. 10 | Two annas |
| Exceeds Rs. 10, does not exceed Rs. 50 | Four annas |
| Exceeds Rs. 50, does not exceed Rs. 100 | Eight annas |
| Exceeds Rs. 100, does not exceed Rs. 200 | One rupee |
| Exceeds Rs. 200, does not exceed Rs. 300 | One rupee eight annas |
| Exceeds Rs. 300, does not exceed Rs. 400 | Two rupees |
| Exceeds Rs. 400, does not exceed Rs. 500 | Two rupees eight annas |
| Exceeds Rs. 500, does not exceed Rs. 600 | Three rupees |
| Exceeds Rs. 600, does not exceed Rs. 700 | Three rupees eight annas |
| Exceeds Rs. 700, does not exceed Rs. 800 | Four rupees |
| Exceeds Rs. 800, does not exceed Rs. 900 | Four rupees eight annas |
| Exceeds Rs. 900, does not exceed Rs. 1,100 | Five rupees |
| For every Rs. 500 or part thereof in excess of Rs. 1,000 | Two rupees eight annas |
A printing point. The last band is printed "exceeds Rs. 900 and does not exceed Rs. 1,100", while the final row counts "in excess of Rs. 1,000". We quote the rows as printed and do not reconcile them.
Exemptions printed under Article 15. A bond is exempted when executed by (a) headmen nominated under rules framed in accordance with the Bengal Irrigation Act, 1876, section 99, for the due performance of their duties under that Act; and (b) any person for the purpose of guaranteeing that the local income derived from private subscriptions to a charitable dispensary or hospital or any other object of public utility shall not be less than a specified sum per mensem. The 1876 Act is an old law named as printed; the reader should check the current law for the corresponding provision.
The "See" entry. Under Article 15 the copy prints a list of related Articles: Administration Bond (No. 2), Bottomry Bond (No. 16), Customs Bond (No. 26), Indemnity Bond (No. 34), Respondentia Bond (No. 56) and Security Bond (No. 57). These are the five Articles below plus an Article that the copy does not print.
If you are drawing a bond or a bond-like undertaking, our loan documentation support service can check which Article the document falls under.
The other bond Articles
| Article | Description of instrument as printed | Proper stamp-duty as the central Schedule prints it | Exemptions as printed |
|---|---|---|---|
| 16 | Bottomry bond: an instrument whereby the master of a sea-going ship borrows money on the security of the ship to enable him to preserve the ship or prosecute her voyage | The same duty as a Bond (No. 15) for the same amount | None printed |
| 26(a) | Customs bond where the amount does not exceed Rs. 1,000 | The same duty as a Bond (No. 15) for such amount | None printed |
| 26(b) | Customs bond in any other case | Five rupees | None printed |
| 34 | Indemnity-bond | The same duty as a Security Bond (No. 57) for the same amount | None printed |
| 56 | Respondentia bond: an instrument securing a loan on the cargo laden or to be laden on board a ship and making repayment contingent on the arrival of the cargo at the port of destination | The same duty as a Bond (No. 15) for the amount of the loan secured | None printed |
| 57(a) | Security bond or mortgage-deed, executed by way of security for the due execution of an office, or to account for money or other property received by virtue thereof, or by a surety to secure the due performance of a contract, where the amount secured does not exceed Rs. 1,000 | The same duty as a Bond (No. 15) for the amount secured | See below |
| 57(b) | The same, in any other case | Five rupees | See below |
Exemptions under Article 57
A bond or other instrument is exempted when executed:
- (a) by headmen nominated under rules framed in accordance with the Bengal Irrigation Act, 1876, section 99, for the due performance of their duties under that Act;
- (b) by any person for the purpose of guaranteeing that the local income derived from private subscriptions to a charitable dispensary or hospital or any other object of public utility shall not be less than a specified sum per mensem;
- (c) under No. 3A of the rules made by the State Government under section 70 of the Bombay Irrigation Act, 1879;
- (d) by persons taking advances under the Land Improvement Loans Act, 1883 or the Agriculturists' Loan Act, 1884, or by their sureties, as security for the repayment of such advances;
- (e) by officers of the Government or their sureties to secure the due execution of an office or the due accounting for money or other property received by virtue thereof.
The old Acts named here are quoted as printed. The reader should check the current law for the corresponding provision, and this article names no replacement.
How the chain of references works
The indemnity-bond follows Article 57 for the same amount, and Article 57 in turn follows Article 15 for amounts up to Rs. 1,000 and charges Five rupees otherwise. The result is that an indemnity-bond for an amount up to Rs. 1,000 is charged, on the printed words, like a bond for that amount, and one above that carries the flat figure in Article 57(b). We state the chain as printed; we do not convert it to a present-day amount.
For the indemnity itself, see our article on section 124 of the Indian Contract Act, 1872. For the practical note on this instrument, see our page on stamp duty on an indemnity bond.
Who bears the stamp expense
Section 29(a) of the Act lists, among the Articles whose instruments are stamped at the expense of the person drawing, making or executing them (in the absence of an agreement to the contrary), Nos. 15, 16, 26, 34, 56 and 57. Our article on section 29 explains it.
An example with invented names
Verma Enterprises gives a bond to a supplier undertaking to pay a sum of Rs. 750 if it defaults on a contract. The amount secured falls in the Article 15 band that "exceeds Rs. 700 and does not exceed Rs. 800", for which the central Schedule prints four rupees. That is the central text's figure; the State where the bond is executed fixes the duty actually payable. If the same instrument were an indemnity-bond for Rs. 750, Article 34 would give the same duty as a Security Bond (No. 57) for that amount, and for Rs. 750 Article 57(a) points back to the Article 15 scale.
Need help with a bond or an indemnity?
If you are asked to give a bond, an indemnity or a security to a lender, a customer or a government office, our team can read the wording with you under our loan documentation support service. We identify the Article first and then look at the State's own schedule.
Key takeaways
- Article 15 is the base scale for a bond; Articles 16, 26(a), 34, 56 and 57(a) follow it directly or through Article 57.
- The copy prints Article 26(b) and Article 57(b) at Five rupees.
- The copy prints the duty column out of line in this group; the order has been rebuilt, and the official text should be checked.
- Bond exemptions named in Articles 15 and 57 rest on old Acts quoted as printed.
- All amounts are the central text's, not the duty payable today.
Read next
- Articles 40, 32, 41 and 54 of Schedule I: mortgage deed, further charge, mortgage of a crop and reconveyance
- Article 6 of Schedule I: deposit of title deeds, pawn or pledge
- Schedule I: how the Schedule is laid out and which duties the States fix
- Stamp duty on bond and debenture
Disclaimer: Based on the consolidated text of the Indian Stamp Act, 1899 published by the Department of Revenue, whose latest amendment shown is Act 13 of 2021, as consulted on 2 October 2026. Only the central text is covered: stamp duty on most instruments is fixed by the law and schedule of the State where the instrument is executed, and State amendments, rules, notifications and later amendments should be checked. This article is general information, not legal advice; check the official text before acting.