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TypeBare Act JurisdictionCentral Government

Finance Act, 2008 Section 98

Exemption from ad valorem stamp duty for low value transactions

~1 min read
https://sooperkanoon.com/act/455902

Bare act section · Research

About this section

Finance Act, 2008 Section 98 is part of Finance Act, 2008 - Exemption from ad valorem stamp duty for low value transactions. Read the section text below and explore Indian court judgments that cite it.

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Section Text

1) Paragraph 1 of Schedule 13 to FA 1999 (charge to stamp duty on conveyance or transfer on sale) is amended as follows.

(2) In sub-paragraph (3), for "(4)" substitute "(3A)".

(3) After that sub-paragraph insert- "(3A) Stamp duty is not chargeable under sub-paragraph (1) on a transfer of stock or marketable securities where-

(a) the amount or value of the consideration for the sale is 1,000 or under, and (b) the instrument is certified at 1,000."

(4) In paragraph 6(1) (meaning of instrument being certified at an amount), for "paragraph" substitute "paragraphs 1(3A) and".

(5) The amendments made by this section have effect in relation to instruments executed on or after 13 March 2008 and not stamped before 19 March 2008.

(6) For the purposes of section 14(4) of the Stamp Act 1891 (c.

39) (instruments not to be given in evidence etc unless stamped in accordance with the law in force at the time of first execution), the law in force at the time of execution of an instrument-

(a) executed on or after 13 March 2008 but before 19 March 2008, and (b) not stamped before 19 March 2008, shall be deemed to be the law as varied in accordance with this section.

Frequently asked questions

What does Finance Act, 2008 Section 98 provide?

Section Section 98 of the Finance Act, 2008 (Exemption from ad valorem stamp duty for low value transactions) is reproduced on this page as part of the Finance Act, 2008. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Finance Act, 2008 Section 98?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 2008 Section 98. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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