Securities in depository: issuers bear duty on total issue while transfers and depository-held ownership are exempt from stamp duty. Substitution of section 8A provides that an issuer issuing securities to one or more depositories is chargeable with duty on the total amount of securities issued and such securities need not be stamped; certificates issued under the Depositories Act attract duty as on duplicate certificates; and transfers of registered ownership to or from a depository, transfers of beneficial ownership of securities dealt with by a depository, and transfers of beneficial ownership of mutual fund units dealt with by a depository are not liable to duty. Definitions from the Depositories Act and the Securities Contracts (Regulation) Act apply.
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: issuers bear duty on total issue while transfers and depository-held ownership are exempt from stamp duty.
Substitution of section 8A provides that an issuer issuing securities to one or more depositories is chargeable with duty on the total amount of securities issued and such securities need not be stamped; certificates issued under the Depositories Act attract duty as on duplicate certificates; and transfers of registered ownership to or from a depository, transfers of beneficial ownership of securities dealt with by a depository, and transfers of beneficial ownership of mutual fund units dealt with by a depository are not liable to duty. Definitions from the Depositories Act and the Securities Contracts (Regulation) Act apply.
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