Instruments chargeable with duty for transactions in stock exchanges and depositories
Section 9A of the Indian Stamp Act, 1899 deals with instruments chargeable with duty for transactions in stock exchanges and depositories. Notwithstanding anything contained in this Act,-- (a) when the sale of any securities, whether delivery based or otherwise, is made through a stock exchange, the stamp-duty on each such sale in the clearance list shall be collected on behalf of the State Government by the stock exchange or a clearin The Act came into force on 01 Jul 1899.
1[9A. Instruments chargeable with duty for transactions in stock exchanges and depositories.--(1) Notwithstanding anything contained in this Act,--
(a) when the sale of any securities, whether delivery based or otherwise, is made through a stock exchange, the stamp-duty on each such sale in the clearance list shall be collected on behalf of the State Government by the stock exchange or a clearing corporation authorised by it, from its buyer on the market value of such securities at the time of settlement of transactions in securities of such buyer, in such manner as the Central Government may, by rules, provide;
(b) when any transfer of securities for a consideration, whether delivery based or otherwise, is made by a depository otherwise than on the basis of any transaction referred to in clause (a), the stamp-duty on such transfer shall be collected on behalf of the State Government by the depository from the transferor of such securities on the consideration amount specified therein, in such manner as the Central Government may, by rules, provide;
(c) when pursuant to issue of securities, any creation or change in the records of a depository is made, the stamp-duty on the allotment list shall be collected on behalf of the State Government by the depository from the issuer of securities on the total market value of the securities as contained in such list, in such manner as the Central Government may, by rules, provide.
(2) Notwithstanding anything contained in this Act, the instruments referred to in sub-section (1) shall be chargeable with duty as provided therein at the rate specified in Schedule I and such instruments need not be stamped.
2[Provided that no such duty shall be chargeable in respect of the instruments of transaction in stock exchanges and depositories established in any International Financial Services Centre set up under section 18 of the Special Economic Zones Act, 2005 (28 of 2005).]
(3) From the date of commencement of this Part, no stamp-duty shall be charged or collected by the State Government on any note or memorandum or any other document, electronic or otherwise, associated with the transactions mentioned in sub-section (1).
(4) The stock exchange or a clearing corporation authorised by it or the depository, as the case may be, shall, within three weeks of the end of each month and in accordance with the rules made in this behalf by the Central Government, in consultation with the State Government, transfer the stamp-duty collected under this section to the State Government where the residence of the buyer is located and in case the buyer is located outside India, to the State Government having the registered office of the trading member or broker of such buyer and in case where there is no such trading member of the buyer, to the State Government having the registered office of the participant:
Provided that before such transfer, the stock exchange or the clearing corporation authorised by it or the depository shall be entitled to deduct such percentage of stamp-duty towards facilitation charges as may be specified in such rules.
Explanation.--The term participant shall have the same meaning as assigned to it in clause (g) of section 2 of the Depositories Act, 1996 (22 of 1996).
(5) Every stock exchange or the clearing corporation authorised by it and depository shall submit to the Government details of the transactions referred to in sub-section (1) in such manner as the Central Government may, by rules, provide.]
Section 9A, The Indian Stamp Act, 1899 (Act 2 of 1899).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
This section refers to
Judgments citing this section
These may be obiter dicta or a precedent, for you to study. These are the judgments where this section is quoted.
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… impugned judgment dated 21st June, 2016, whereby learned Single Judge has arrived at the conclusion that the subsequent transfer of the units to its members does not require any payment of stamp duty by them, keeping in view the exemption granted to the members of the Co-operative Society under the 2nd proviso to Section 9A of the Indian Stamp Act as inserted by Bihar Amendment Act, 1988. We have considered the submissions raised and it is urged that as a matter of fact since the Co-operative Society in turn had not paid the stamp duty, the said liability can be imposed and realized from the …
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… Xerox copy of such sale deed has been appended as Annexure 4. A counter affidavit has been filed and it has been urged on behalf of the State that the Hope Cooperative Society did not purchase the land for development after payment of registration fee in accordance with the provisions contained in Section 9A of the Indian Stamp Act, 1899 which was payable under Clause 5 Schedule 1A. Thereafter, the petitioners would be liable to pay stamp duty. For better appreciation, Section 9A which has been inserted by Bihar Amendment Act, 1988, is quoted as under. > "9-A. Notwithstanding anything contained in any rule or …
Made under this section, and citing it
1 instrument names this provision in its title or its text without being made under it.
Questions about Section 9A
What does Section 9A of the Indian Stamp Act deal with?
Section 9A of the Indian Stamp Act is headed "Instruments chargeable with duty for transactions in stock exchanges and depositories". [9A. Instruments chargeable with duty for transactions in stock exchanges and depositories.--(1) Notwithstanding anything contained in this Act,-- (a) when the sale of any securities, whether delivery based or otherwise, is made through a stock exchange, the stamp-duty on each such sale in the clear
How do I find court cases under Section 9A of the Indian Stamp Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Stamp Act 9A, section 9A Stamp Act, section 9A of the Indian Stamp Act. People searching for it also type indian stamp act 1899 section 9a. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 9A of the Indian Stamp Act, and has it changed?
Its own text turns on Depositories Act 2 (Definitions), so none of them can safely be read on its own. 4 other provisions in this corpus refer back to it. One instrument names it without being made under it, most recently Amendments to the Indian Stamp Act, 1899 (2019).
When did Section 9A of the Indian Stamp Act come into force?
Section 9A of the Indian Stamp Act, cited as Stamp Act 9A, came into force on 01 Jul 1899, having been enacted on 27 Jan 1899. It is in force as at the date shown on this page.
Other sections of this Act
- 47. Power of payer to stamp bills, and promissory notes received by him unstamped4923 words
- 2. Definitions3110 words
- 3. Instruments chargeable with duty1916 words
- 10. Duties how to be paid1187 words
- 28. Direction as to duty in case of certain conveyances961 words
- 73. Books, etc., to be open to inspection932 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 14 Oct 2026. This page is not a substitute for legal advice.