Securities in depositories: issuers charged duty on issue while transfers to or from depositories are exempt from duty. An issuer that issues securities to one or more depositories is chargeable with duty on the total amount of securities issued and such securities need not be stamped; the transfer of registered ownership between a person and a depository or from a depository to the beneficial owner is not liable to duty, with 'beneficial ownership' as defined 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 depositories: issuers charged duty on issue while transfers to or from depositories are exempt from duty.
An issuer that issues securities to one or more depositories is chargeable with duty on the total amount of securities issued and such securities need not be stamped; the transfer of registered ownership between a person and a depository or from a depository to the beneficial owner is not liable to duty, with "beneficial ownership" as defined in clause (a) of sub-section (1) of section 2 of the Depositories Act, 1996.
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