Delhi Stamp Act - Amendment

MEMBERSHIP DEPARTMENT

Circular No. 727

NSE/MEM/15891

Date: October 1, 2010

Dear Members, Sub: Regarding the Indian Stamp (Delhi Amendment) Act, 2010.

The Exchange is in receipt of a letter from Collector of Stamps, Delhi, and bearing reference No. F. 1(80)/Regn.Br./Div. Com/10/596 dated September 23, 2010 regarding payment of stamp duty by members to Government of Delhi, the extract of the same is reproduced below:Quote “The Indian Stamp Act, 1899 has been amended for the purpose of the stamp duty on brokers note which has come into effect from July, 2010. A copy of the notification is enclosed. In this regard, I am directed to inform you that proper system of collecting and depositing Stamp Duty on the brokers note generated electronically is being examined and deliberated in the Govt. of Delhi and it is expected that we would be in a position to finalise expeditiously. However, till such time the system is put in place, it is advised that the stamp duty on brokers note generated electronically may be deposited through Treasury Challan on monthly basis in the MH 0030 at State Bank of India, Tis Hazari, Delhi along with the return containing the detail of contract notes and stamp duty on that. The amount shall be deposited in the shape of cash or cheque or demand (draft shall be in favour of P.A.O.V.I, S.B.I., Tis Hazari, Delhi). A copy of the same shall be deposited by the respective company/member of your association to the collector of Stamps(HQ), Divisional Commissioner Office, 5 Sham Nath Marg, Delhi.” Yours faithfully, Sd/(Ravinder Kumar) SDM (HQ)/ Collector of Stamps (HQ) Unquote In view of the same all members are requested to comply with the above requirement. For National Stock Exchange of India Limited Sd/Rehana D’souza Chief Manager Membership