Stamp duty rates for securities revised to specify duties for debentures, transfers and derivatives, and government securities treatment clarified. Schedule I of the Indian Stamp Act, 1899 is amended to reclassify and separately treat debentures and other securities: Article 27 is substituted to set stamp duty for debenture issuance and transfer; Article 56A is inserted to prescribe distinct duties for issue and transfer of securities other than debentures, multiple derivative categories, Government securities and repo on corporate bonds; Article 19 excludes documents covered by Articles 27 and 56A; Article 28 excludes exchange settlement delivery orders; Article 36 addresses letters of allotment for loans; certain items of Article 62 are omitted.
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Stamp duty rates for securities revised to specify duties for debentures, transfers and derivatives, and government securities treatment clarified.
Schedule I of the Indian Stamp Act, 1899 is amended to reclassify and separately treat debentures and other securities: Article 27 is substituted to set stamp duty for debenture issuance and transfer; Article 56A is inserted to prescribe distinct duties for issue and transfer of securities other than debentures, multiple derivative categories, Government securities and repo on corporate bonds; Article 19 excludes documents covered by Articles 27 and 56A; Article 28 excludes exchange settlement delivery orders; Article 36 addresses letters of allotment for loans; certain items of Article 62 are omitted.
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