In the Karnataka Panchayat Raj Act, 1993 (Karnataka Act 14 of 1993), in section 205,-



(1) for sub-section (1), excluding the provisos, the following shall be substituted, namely:-



"(1) The duty on transfers of immovable property shall be levied in the form of a surcharge at the rate of three percent of the duty imposed by the Karnataka Stamp Act, 1957, on instruments of sale, gift, mortgage, exchange and lease in perpetuity, of immovable property situated within the limits of the area of a Taluk Panchayat."



(2) in the provisos, for the words "additional stamp duty" the words "duty on transfers" shall be substituted.



(3) in sub-sections (2), (3), (4) and (5), for the words "additional stamp duty" the words "duty on transfers" shall be substituted.