Articles 31 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.
Four family and property instruments sit close together in Schedule I: the exchange of property (Article 31), the gift (Article 33), the partition (Article 45) and the release (Article 55). Three of them are charged by reference to the conveyance scale in Article 23, and two by reference to the bond scale in Article 15. This article sets out each as the central Schedule prints it, rebuilds the duty column where the copy prints it out of line, and explains the partition rule about the "largest share".
Article 31 and Article 33 are charged at the conveyance duty (Article 23) on the value of the property, and Article 45 and Article 55 at the bond duty (Article 15) on the separated share or the claim. A partition has a special rule that the largest remaining share is treated as the one from which the others are separated. The amounts are those the central Schedule prints, not the duty payable today: stamp 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.
A note on the duty column
In the stretch from Article 25 to Article 35, and again for Articles 54 to 57, the copy prints the duty column out of line with the descriptions. The duties are printed in the right order but several lines above or below their rows. The official text should be checked. We have rebuilt the order for Articles 31, 33 and 55 below.
The central Schedule's entries
| Article | Description of instrument as printed | Proper stamp-duty as the central Schedule prints it | Exemptions as printed |
|---|---|---|---|
| 31 | Exchange of property: instrument of | The same duty as a Conveyance (No. 23) for a consideration equal to the value of the property of greatest value as set forth in such instrument | None printed |
| 33 | Gift: instrument of, not being a Settlement (No. 58) or will or Transfer (No. 62) | The same duty as a Conveyance (No. 23) for a consideration equal to the value of the property, as set forth in such instrument | None printed |
| 45 | Partition: instrument of | The same duty as a Bond (No. 15) for the amount of the value of the separated share or shares of the property | None; see the N.B. and provisos below |
| 55(a) | Release: any instrument (not being such a release as is provided for by section 23A) whereby a person renounces a claim upon another person or against any specified property, where the amount or value of the claim does not exceed Rs. 1,000 | The same duty as a Bond (No. 15) for such amount or value as set forth in the release | None printed |
| 55(b) | Release, in any other case | Five rupees | None printed |
The Article 55 footnote shows the words "(not being such a release as is provided for by section 23A)" as inserted by Act 15 of 1904, s. 8. The instrument chargeable under section 23A (the release or discharge of an instrument connected with a mortgage of marketable securities) is therefore carved out of Article 55.
Please note that each amount depends on Article 23 or Article 15, whose scales are set out in our article on conveyance, part performance and certificate of sale and in the bonds article listed under "Read next".
If you are drafting a gift, a family settlement or a release and want the instrument read first, our agreement drafting service can help.
Article 31: exchange
An exchange is charged at the conveyance duty on a consideration equal to "the value of the property of greatest value as set forth in such instrument". So, in an exchange of two properties, the duty is worked out once, on the more valuable property, and not on both. Section 29(e) provides that the expense of an instrument of exchange (including swap) is borne, in the absence of agreement to the contrary, by the parties in equal shares.
Article 33: gift
A gift is charged at the conveyance duty on a consideration "equal to the value of the property, as set forth in such instrument". The Article excludes a settlement (Article 58), a will and a transfer (Article 62). Because there is no price in a gift, the value stated in the instrument is the measure. See our page on stamp duty on a gift deed.
Article 45: partition
Article 45 charges an instrument of partition as defined by section 2(15), at the bond duty on "the amount of the value of the separated share or shares of the property". The Article adds an N.B. and three provisos.
The N.B. The largest share remaining after the property is partitioned (or, if two or more shares are of equal value and not smaller than any other share, then one of those equal shares) is deemed to be the share from which the other shares are separated. The effect is that the duty is charged on the value of the shares separated from that largest share, not on the whole property.
Proviso (a). Where an instrument of partition containing an agreement to divide property in severalty is executed and a partition is effected in pursuance of it, the duty on the instrument effecting the partition is reduced by the duty paid on the first instrument, but is not to be less than eight annas.
Proviso (b). Where land is held on revenue settlement for a period not exceeding thirty years and pays the full assessment, the value for duty is calculated at not more than five times the annual revenue.
Proviso (c). Where a final order for partition passed by a Revenue-authority or a Civil Court, or an award by an arbitrator directing a partition, is stamped with the stamp required for an instrument of partition, and a later instrument of partition in pursuance of it is executed, the duty on that instrument is not to exceed eight annas.
Section 29(g) divides the expense: the parties bear it in proportion to their respective shares in the whole property partitioned or, where the partition follows an order of a Revenue-authority, Civil Court or arbitrator, in the proportion that authority directs.
Article 55: release
A release is any instrument by which a person renounces a claim upon another person or against specified property. If the amount or value of the claim does not exceed Rs. 1,000 the duty is the bond duty on that amount or value; in any other case it is five rupees. Section 29(a) names Article 55: in the absence of agreement to the contrary the person drawing, making or executing the release bears the expense. For the practical page, see our guide to stamp duty on a release deed.
Examples using the Schedule's mechanics
Partition. Three brothers divide family property worth Rs. 900 into shares of Rs. 500, Rs. 250 and Rs. 150. The largest share, Rs. 500, is deemed the one from which the others are separated, so the separated shares total Rs. 400. Article 45 then points to the bond duty on Rs. 400, for which the central Schedule prints two rupees (the band exceeding Rs. 300 and not exceeding Rs. 400). The amount illustrates the method only; the State where the deed is executed fixes the duty actually payable.
Exchange. Anil swaps a shop valued at Rs. 600 for Rekha's flat valued at Rs. 800. The consideration for duty is the value of the property of greatest value, Rs. 800, and, under section 29(e), Anil and Rekha bear the expense in equal shares unless they agree otherwise.
What the text does not say
The copy consulted does not define "value" beyond what the Schedule and the Act's valuation sections say. It prints no State treatment of gifts between family members. Nothing outside the central text is stated here.
Need help with a family property document?
If your family is dividing, gifting or releasing property and you want the instrument checked against the central Schedule and the State's own, our team can help under our agreement drafting service. We will tell you which Article each paper falls under before it is signed.
Key takeaways
- Exchange (Article 31) is charged at the conveyance duty on the property of greatest value; gift (Article 33) on the value of the property set forth.
- Partition (Article 45) is charged at the bond duty on the separated shares; the largest remaining share is the one from which the others are deemed separated.
- Release (Article 55) is charged at the bond duty on claims up to Rs. 1,000 and at five rupees otherwise.
- Section 29 allocates the expense: equal shares for exchange, proportion to shares for partition, the person executing for a release.
- All amounts are the central text's; the State where the instrument is executed fixes the duty payable.
Read next
- Articles 23, 23A and 18 of Schedule I: conveyance, part-performance contract and certificate of sale
- Articles 15, 16, 26, 34, 56 and 57 of Schedule I: bonds
- Section 29 of the Indian Stamp Act, 1899: who bears the stamp duty
- Specimen gift deed for movable and immovable property
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.