Section 9B Indian Stamp Act
Section 9A of the Indian Stamp Act 1899 is about Instruments chargeable with duty for transactions otherwise than through stock exchanges and depositories. It is under ‘AA.— Of the liability of instruments of transaction in stock exchanges and depositories to duty’ of CHAPTER II (Stamp Duties) of the Act.
Instruments chargeable with duty for transactions otherwise than through stock exchanges and depositories.
(a) when any issue of securities is made by an issuer otherwise than through a stock exchange or depository, the stamp-duty on each such issue shall be payable by the issuer, at the place where its registered office is located, on the total market value of the securities so issued at the rate specified in Schedule I;
(b) when any sale or transfer or reissue of securities for consideration is made otherwise than through a stock exchange or depository, the stamp-duty on each such sale or transfer or reissue shall be payable by the seller or transferor or issuer, as the case may be, on the consideration amount specified in such instrument at the rate specified in Schedule I.
