Examine with reasons, whether the following transactions are exempted under the Indian Stamp Act, 1899 : (d) A scheme for corporatisation or demutualisation or both of a recognised stock exchange.
CS Executive · Economic and Commercial Laws · PYQS · December 2020
Examine with reasons, whether the following transactions are exempted under the Indian Stamp Act, 1899 : (d) A scheme for corporatisation or demutualisation or both of a recognised stock exchange.
Answer & Explanation:
According to Section 8B of the Indian Stamp Act, 1899 a scheme for corporatisation or demutualisation, or both of a recognized stock exchange shall not be liable to duty under the Act or any other law for the time being in force. Accordingly, this instrument is not liable to stamp duty.
Topics: Indian Stamp Act
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