Where an
instrument is chargeable with ad valorem duty in respect of any stock or
of any marketable or other security, such duty shall be calculated on the
1[the market of such stock or security] :
2[Provided that the market value for calculating the stamp-duty shall be, in the case of, ––
(i) options in any securities, the premium paid by the buyer ;
(ii) repo on corporate bonds, interest paid by the borrower ; and
(iii) swap, only the first leg of the cash flow.]
2[Provided that the market value for calculating the stamp-duty shall be, in the case of, ––
(i) options in any securities, the premium paid by the buyer ;
(ii) repo on corporate bonds, interest paid by the borrower ; and
(iii) swap, only the first leg of the cash flow.]
1. Substituted for certain words by S.O. 3808(E) dated 26.10.2020. 2. Proviso inserted ibid.