Legal Document View

Unlock Advanced Research with PRISMAI

Integrated with over 4 crore judgments and laws — designed for legal practitioners, researchers, students and institutions

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 206] [Entire Act]

Union of India - Section

Section 9 in The Indian Stamp Act, 1899

9. Power to reduce, remit or compound duties.

- [(1)] [Section 9 renumbered as sub-Section (1) by A.O.1950.] [The [*] [Substituted by A.O.1037, for "Governor-General in Council" .] Government] may, by rule or order published in the Official Gazette,(a)reduce or remit, whether prospectively or retrospectively, in the whole or any part of [the territories under its administration] [Substituted by A.O.1937, for "British India" .], the duties with which any instruments or any particular class of instruments, or any of the instruments belonging to such class, or any instruments when executed by or in favour of any particular class of persons, or by or in favour of any members of such class, are chargeable, and(b)provide for the composition or consolidation of duties [of policies of insurance and] [Inserted by Act 23 of 2004, Section 117 (w.e.f. 10.9.2004).] in the case of issues by any incorporated company or other body corporate [or of transfers (where there is a single transferee, whether incorporated or not)] [Inserted by Act 32 of 1994, Section 99 (w.e.f. 13.5.1994).] of debentures,bonds or other marketable securities
(2)[ In this section, the expression the Government means,
(a)in relation to stamp-duty in respect of bills of exchange, cheques, promissory notes, bills of lading, letters of credit, policies of insurance, transfer of shares, debentures, proxies and receipts, and in relation to any other stamp-duty chargeable under this Act and falling within Entry 96 in List I in the [Seventh Schedule to the Constitution, except the subject matters referred to in clause (b) of sub-section (1)], the Central Government;
(b)save as aforesaid, the State Government.]
[30a. Clause (2) added by A.O.1950.]
ANDHRA PRADESH.- in sub-section (1), in the opening portion for the words "The Government may by rule or order published in the Official Gazette,", the words "The Government if satisfied that it is necessary to do so in the public interest, may, by rule or order published in the Official Gazette,-, shall be substituted;(ii) in clause (b), for the words "bonds or other marketable securities.", the words "bonds, shares or policies of insurances, proxies and receipts or other marketable securities.", shall be substituted;(iii) in sub-section (2), for clause (b), the following clause shall be substituted, namely:-"(b) save as aforesaid and in respect of clause (b) of sub-section (1), the State Government.[Act No. 8 of 2003]
[AA. - Of the liability of instruments of transaction in stock exchanges and depositories to duty [Inserted by Finance Act, 2019 (Act No. 7 of 2019) dated 21.2.2019.]