Stamp duty on debentures

[VIJAY DHINGRA]

Dear Members

 

Can abyone provide inputs on:

 

--- Stamp duty payable on issuance of non-convertible debentures on private placement basis under dematerialized mode. The debebtures are proposed to be issued in the state of Delhi and requirement of appointment of debenture trustee is not applcable.

 

Learned members are requested to share the views urgently.



Thanks & Regards

Vijay Dhingra

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[INDRANI SANKA]

Hi,

In my view the stamp duty on the issue of debenture is governed by the Central Government.

there was a notification that had come out in 2008:  the gist of the notification is as followings: please read it along with the Indian Stamp Act 1899

http://articles.economictimes.indiatimes.com/2008-09-15/news/27698133_1_debentures-and-promissory-notes-stamp-duty-duty-on-security-receipts

 

Could any one forward me the link for the actual notification of the same.

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Thanks,

Indrani

[BINDU MADHAVA]

Issue of Debentures irrespective of demat or physical mode needs to be stamped in accordance with Article 27 to Schedule I of Indian Stamp Act, 1899

[VIJAY DHINGRA]

Dear Member

 

As far as i undertand corrrectly, the Article 27 deals with tranfsfer of debenture. My question is whether any stamp duty is payable at the time of issuance of NCDs in demat form. It is clearly established that stamp duty is payable in the event of appointment of debenture trustee and mortgage of property etc.

Kindly correct me if I am worng

Thanks & Regards

Vijay Dhingra

[BINDU MADHAVA]

Article 62 deals with transfer, however exemption available for issue of debentures against registered mortgage deed under Article 27