stamp duty

Question 1

about amended Indian Stamp Act, 1899

Answer 1

• there is uniform rate of Stamp Duty on all securities like shares, bonds/debentures etc. And it will be paid either by the buyer or the seller to the State Govt.
• When securities (shares, bonds) are bought/sold then SECURITIES TRANSACTION TAX (STT) is collected by Centre and STAMP DUTY is collected by State