(a) Whenever an instrument is presented for registration to any registering officer, he shall see whether the particulars referred to in section 27 of the Stamp Act, are set forth in the instrument separately as required by the said section 27 read with section 3 of the Act and shall also ensure that the municipality within whose jurisdiction the property concerned is situated, is set forth clearly in the instrument;
(b) If the said particulars are not separately set forth in the instrument, the registering officer shall keep the instrument pending for want of these particulars instead of impounding it. Such particulars may be obtained subsequently and the instrument be impounded if deficiently stamped, and forwarded to the District Collector calling his attention to section 64 of the Stamp Act read with clause (b) of section 4 of the Act.
(c) The duty leviable on an instrument of exchange shall be regulated as follows, namely:-
(i) if the values of the properties exchanged are unequal, the duty shall be levied on the value of the property of the greater value; and
(ii) if the values of the properties exchanged are equal, the higher amount of duty leviable shall be levied.
5. Maintenance and consolidation of accounts in respect of transfer duty.-—(a) (i) Every registering officer shall maintain an account of the duty paid in respect of each instrument registered by him showing separately the duty imposed by the Stamp Act and the transfer duty. The registering officer shall also maintain a separate account for each municipality within whose jurisdiction the property concerned is situated.
(ii) The said account shall be consolidated quarterly for each municipality by the Inspector-General of Registration at the head quarters through the District Registrars of the Revenue District and the administrative District Registrars of the City of Chennai.
(iii) The Inspector-General of Registration may issue executive instructions regarding the maintenance of accounts by Registering Officers in this behalf and the form in which the consolidated accounts for each quarter are to be forwarded to the Inspector-General of Registration and the Accountant-General, Tamil Nadu.
(b) In the case of instruments which do not come into the hands of registering officers owing to the fact that they are not compulsorily registerable under section 17 of the Indian Registration Act, 1908 (Central Act XVI of 1908), the District Collector before whom any such instrument is produced under section 31 or 41 of the Stamp Act or who impounds any such instrument under section 33 of the said Act, or receives a certificate of the duty and penalty paid in respect of any such instrument or the original of any such instrument under section 38 of the said Act, shall keep an account of the duty paid in respect of each such instrument showing separately the duty imposed by the Stamp Act and the transfer duty and forward to the District Registrar of Assurances concerned, within a period of one month after the close of each quarter, a quarterly consolidated account with particulars in the case of each such instrument regarding the names of the executant and claimant, the date of execution, the nature of the transaction, the amount of consideration, the value of the property or the amount secured by the mortgage as the case may be, and the description of the property situated within the limits of a municipality.
(c) If in any case it is impossible to recover the full duty payable on any instrument, then only such portion of the duty realised on such instrument as in excess of the duty imposed by the Stamp Act shall be treated in the accounts referred to in this rule as transfer duty.
(d) Every District Collector who sanctions a refund of the transfer duty paid on any instrument, shall forward to the District Registrar of Assurances concerned within a period of one month after the close of each quarter a statement of instrument in respect of which such refunds were sanctioned during the quarter noting therein the amount of the transfer duty refunded and the particulars referred to in sub-rule (b) in respect of each such instrument.
3TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY