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Indian Stamp Act 1899

The Indian Stamp Act of 1899 outlines stamp duties that must be paid for certain legal documents in India such as mortgages, conveyances, receipts, debentures, shares, insurance policies, partnership deeds, proxies, and shares. The rates of stamp duty are set by individual states and union territories. Those paying stamp duties can apply to the Collector for an opinion on the proper duty if unsure of the amount. Adhesive stamps must be canceled and imprints properly embossed to show duty has been paid and prevent reuse.

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Chirpi Celia
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101 views2 pages

Indian Stamp Act 1899

The Indian Stamp Act of 1899 outlines stamp duties that must be paid for certain legal documents in India such as mortgages, conveyances, receipts, debentures, shares, insurance policies, partnership deeds, proxies, and shares. The rates of stamp duty are set by individual states and union territories. Those paying stamp duties can apply to the Collector for an opinion on the proper duty if unsure of the amount. Adhesive stamps must be canceled and imprints properly embossed to show duty has been paid and prevent reuse.

Uploaded by

Chirpi Celia
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Indian Stamp Act, 1899

-stamped document.

are valid only for Union territories. In case of States, the rates prescribed by individual States will prevail in those Stat

mortgage, conveyance, receipt, debenture, share, insurance policy, partnership deed, proxy, shares etc.

paying the duty may not be sure of the stamp duty payable. In such case, he can apply for opinion of Collector. He ha

case of adhesive stamps, the stamps have to be effectively cancelled so that they cannot be used again. Similarly, im

ccepted as evidence in criminal court.

amount and endorse the document that proper duty has been paid [section 41].

ledged to have been received or (b) where any other movable property is acknowledged to have been received in sa

No. SO 198(E) dated 16.3.1976]. As per section 21, the duty has to be calculated on the basis of market price prevale

t]. If an investor opts out of depository scheme, the securities surrendered to Depository will be issued to him in form

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