15.
| (1) Where any property is conveyed by an instrument, the stamp duty with which such instrument is chargeable shall be calculated on the value of the property conveyed. |
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| (2) Where any property transferred for a consideration is subject to any mortgage, encumbrance or reservation of interest, stamp duty with which the instrument of transfer is chargeable shall be calculated on the value of the property transferred, without any deduction for the mortgage, encumbrance or reservation. |
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| (3) Where any property is gifted subject to any reservation in favour of the donor or any other person, stamp duty with which the instrument of gift is chargeable shall be calculated on the value of the property gifted as if that property had bean gifted to the donee without that reservation. |
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Sri Lanka Consolidated Acts