Stamp duty on transfer of debentures
1.Indian Stamp Act 1899 - Schedule 1 - Art.62 -Transfer(whether with or without consideration)(b) of debentures being marketable securities whether debenture is liable to duty or not, except debentures provided for by section 8 - [One half of the duty payable on a conveyance(No.23) for a consideration equal to the face amount of debentures.
2. Art 23. states that for conveyance (Rs.5/- for every Rs.1000/-)
To conclude, stamp duty on transfer of marketable debentures is Rs. 5 for every Rs. 1000/-,i.e.0.005
1.Indian Stamp Act 1899 - Schedule 1 - Art.62 -Transfer(whether with or without consideration)(b) of debentures being marketable securities whether debenture is liable to duty or not, except debentures provided for by section 8 - [One half of the duty payable on a conveyance(No.23) for a consideration equal to the face amount of debentures.
2. Art 23. states that for conveyance (Rs.5/- for every Rs.1000/-)
To conclude, stamp duty on transfer of marketable debentures is Rs. 5 for every Rs. 1000/-,i.e.0.005
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