Securities in depository: issuer bears stamp duty on issuance; transfers to/from depositories are exempt from duty. Substitution of section 8A provides that an issuer who issues securities to one or more depositories is chargeable with stamp duty on the total amount of securities issued and such securities need not be stamped. Transfers of registered ownership from a person to a depository or from a depository to a beneficial owner are not liable to duty. 'Beneficial ownership' is to be interpreted as in clause (a) of sub section (1) of section 2 of the Depositories Act, 1996.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Securities in depository: issuer bears stamp duty on issuance; transfers to/from depositories are exempt from duty.
Substitution of section 8A provides that an issuer who issues securities to one or more depositories is chargeable with stamp duty on the total amount of securities issued and such securities need not be stamped. Transfers of registered ownership from a person to a depository or from a depository to a beneficial owner are not liable to duty. "Beneficial ownership" is to be interpreted as in clause (a) of sub section (1) of section 2 of the Depositories Act, 1996.
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