Distinguish between executed and execution under Indian Stamp Act, 1889.

Under Section 1(12) of the Indian Stamp Act, 1889, the words "executed" and "execution" (used with reference to instruments), mean "signed" and "signature" respectively. Signature includes mark by an illiterate person [Section 3(52), General Clauses Act, 1897]. An instrument which is chargeable with stamp duty only on being "executed" is not liable to stamp duty until it is signed. The Collector can receive the stamp duty without penalty and certify an instrument as duly stamped, as from the date of execution. (Sections 37 and 40 of the Indian Stamp Act, 1889)