Section 8A
Securities dealt in depository not liable to stamp duty.—
8A. Securities dealt in depository not liable to stamp duty.—
anything contained in this Act or any other law for the time being in 8A. Securities dealt in depository not liable to stamp
Notwithstanding anything contained in this Act or any other law for the time being in force.—
y been
(3) In the case of wilful neglect to pay the duty required by this section the
to forfeit to the Government a sum equal to ten (3) In the case of wilful neglect to pay the duty required
local authority shall be liable to forfeit to the Government a sum equal to ten
of duty payable, and a like penalty for every month, local authority shall be liable to forfeit to th
percentum upon the amount of duty payable, and a like penalty for every month,
which the neglect continues. percentum upon the amount of
after the first month during which the neglect continues.
(a) anissuer, by the issue of securities to one or more depositories shall,
such issue, be chargeable with duty on the total amount anissuer, by the issue of securities to one or more
in respect of such issue, be chargeable with duty on the total amount
by it and such securities need not be stamped: in respect of such issue, be chargeable
of security issued by it and such securities need not be stamped:
under sub-section (3)
of security issued by it and such
(b) where an issuer issues certificate of security under sub-section (3) of
Act, 1996 (22 of 1996), on such certificate where an issuer issues certificate of se
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