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of <h1>Indian Stamp Act Section 21 Amendment: Market Value Redefined for Stocks, Securities, Options, Repos, and Swaps.</h1> Section 21 of the Indian Stamp Act, 1899, is amended to redefine how the value of stock or security is determined for stamp duty purposes. The term 'market value' replaces the previous reference to 'average price or value on the day of the instrument.' A proviso is added specifying that for options in securities, the premium paid by the buyer determines market value; for repos on corporate bonds, the interest paid by the borrower; and for swaps, only the first leg of the cash flow is considered.
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