Section 21: Stock and marketable securities how to be valued.

The Stamp Act, 1977 (1920 A. D.)Union territory Act of Jammu and Kashmir · Act 40 of 1977

Where an instrument is chargeable with ad valorem duty in respect of any stock or of any marketable or other security, such duty shall be calculated on the [the market of such stock or security] :

[Provided that the market value for calculating the stamp-duty shall be, in the case of, ––

(i) options in any securities, the premium paid by the buyer ;

(ii) repo on corporate bonds, interest paid by the borrower ; and

(iii) swap, only the first leg of the cash flow.]

Where this provision sits

Act	The Stamp Act, 1977 (1920 A. D.)
Section	21
Marginal note	Stock and marketable securities how to be valued.
Jurisdiction	Union territory of Jammu and Kashmir
Status	In 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. . Substituted for certain words by S.O. 3808(E) dated 26.10.2020.
inserted. . Proviso inserted ibid.

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