10B. [ Stock exchange etc., to deduct stamp duty from trading member's account. [Section 10B was inserted by Maharashtra 32 of 2005, Section 4 (w.e.f. 7-5-2005).]
- Notwithstanding anything contained in this Act, in case of transactions through stock exchange or an association as defined in clause (a) of section 2 of the Forward Contracts (Regulation) Act, 1952, the stock exchange or, as the case may be, an association, shall collect the due stamp duty by deducting the same from the trading member's account at the time of settlement of such transactions. The stamp duty so collected shall be transferred to the Government Treasury, Sub-Treasury or General Stamp Office in the manner specified by the Chief Controlling Revenue Authority.Explanation. - For the purposes of this section, "stock exchange" means the stock exchange as defined in clause (j) of section 2 of the Securities Contract (Regulation) Act, 1956.] [Section 10A was inserted by Maharashtra Act No 10 of 2003, Section 3, (w.e.f. 3.2.2003).]
