Since Uttarakhand state has adopted Indian Stamp Act and as per Indian Stamp act :
Bonds, debentures or other securities issued on loans under Act XI of 1879 - (1) Notwithstanding anything in this Act, any local authority raising a loan under the provisions of the 3Local Authorities Loan Act, 1879, or of any other law for the time being in force, by the issue of bonds, debentures or other securities, shall, in respect of such loan, be chargeable with duty of 4[one per centum] on the total amount of the bonds, debentures or other securities issued by it, and such bonds, debentures or other securities need not be stamped, and shall not be chargeable with any further duty on renewal, consolidation, sub-division or otherwise.
1Substituted for the words “East Punjab” by the Adaptation of Laws Order, 1950. The words “East Punjab” had been substituted for the words “the Punjab” by the India (Adaptation of Existing Indian Laws) Order, 1947.
2Sub-sections (1), (2) and (3) repealed by Act 11 of 1963, section 92 (w.e.f. 1st August, 1963).
3See now Act 9 of 1914. Unrepealed Central Acts; Volume VI.
4Substituted for the words “eight annas per centum” by the Indian Stamp (Amendment) Act, 1910 (6 of 1910), section 2.
So accordingly the stamp duty payable will be 8 anna per 100. i could not derive exact meaning of this phrase.
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