STAMP DUTY ON PURCHASE OF OWN SHARES BY A SHARE BROKER
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 October 2010
Hi...
Q. WHEATHER STAMP DUTY IS TO BE PAID IF SHARES ARE PURCHASED BY A SHARE BROKER( NOT SUB-BROKER) WHERE HE DOESN'T HAVE TO ISSUE CONTRACT NOTE?
Q. WHEATHER STAMP DUTY IS TO BE PAID IF SHARES ARE PURCHASED BY A SHARE BROKER( NOT SUB-BROKER) WHERE HE DOESN'T HAVE TO ISSUE CONTRACT NOTE?
Aditya Maheshwari
(Expert)
29 October 2010
I think contract note will be issued though no brokerage will be charged on the purchase and hence stamp duty will also be leviable.
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