1[6A. Securities dealt in depository not liable to stamp-duty.––
Notwithstanding anything contained in this Act or any other law for the time
being in force,—
(a) an issuer, by the issue of securities to one or more depositories, shall in respect of such issue, be chargeable with duty on the total amount of securities issued by it and such securities need not be stamped,
(b) the transfer of registered ownership of securities from person to a depository or from a depository to a beneficial owner shall not be liable to duty.
Explanation.–– For the purpose of this section, the expression “beneficial ownership” shall have the same meaning as assigned to it in the clause (a) of sub-section (1) of section 2 of the Depositories Act, 1996 (22 of 1996).]
(a) an issuer, by the issue of securities to one or more depositories, shall in respect of such issue, be chargeable with duty on the total amount of securities issued by it and such securities need not be stamped,
(b) the transfer of registered ownership of securities from person to a depository or from a depository to a beneficial owner shall not be liable to duty.
Explanation.–– For the purpose of this section, the expression “beneficial ownership” shall have the same meaning as assigned to it in the clause (a) of sub-section (1) of section 2 of the Depositories Act, 1996 (22 of 1996).]
1. Section 6A inserted by S.O. 3808(E) dated 26.10.2020.