# The Indian Stamp Act, 1899, Section 21: Stock and marketable securities how to be valued

- Act: The Indian Stamp Act, 1899 (Act 2 of 1899)
- In force from: 1899-07-01
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/stamp-act/section/21/

## Text

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 1[the market value 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.]

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