Indian Stamp Act, 1899

Section - 9A - Instruments chargeable with duty for transactions in stock exchanges and depositories

[AA.- Of the liability of instruments of transaction in stock exchanges and depositories to duty

Instruments chargeable with duty for transactions in stock exchanges and depositories.

9A.(1) Notwithstanding anything contained in this Act,-

(a)-when the sale of any securities, whether delivery based or otherwise, is made through a stock exchange, the stamp-duty on each such sale in the clearance list shall be collected on behalf of the State Government by the stock exchange or a clearing corporation authorised by it, from its buyer on the market value of such securities at the time of settlement of transactions in securities of such buyer, in such manner as the Central Government may, by rules, provide;
(b)-when any transfer of securities for a consideration, whether delivery based or otherwise, is made by a depository otherwise than on the basis of any transaction referred to in clause (a), the stamp-duty on such transfer shall be collected on behalf of the State Government by the depository from the transferor of such securities on the consideration amount specified therein, in such manner as the Central Government may, by rules, provide;
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