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Section 8A: Securities dealt in depository not liable to stamp-duty.

The Indian Stamp Act, 1899Central Act · Act 2 of 1899

[8A. Securities dealt in depository not liable to stamp duty.---Notwithstanding anything contained in this Act or any other law for the time being in force,---

(a) an issuer, by the issue of securities to one or more depositories, shall, in respect of such issue, be chargeable with duty on the total amount of securities issued by it and such securities need not be stamped;

(b) the transfer of registered ownership of securities from a person to a depository or from a depository to a beneficial owner shall not be liable to duty;

Explanation.---For the purposes of this section, the expression "beneficial ownership" shall have the same meaning as assigned to it in clause (a) of sub-section (1) of section 2 of the Depositories Act, 1996 (22 of 1996)]

Where this provision sits

ActThe Indian Stamp Act, 1899
Section8A
Marginal noteSecurities dealt in depository not liable to stamp-duty.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • substituted, Act 7 of 2019. . Subs. by Act 7 of 2019, s. 14, for section 8A (w.e.f. 1-4-2020).

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