New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    If an instrument involves multiple distinct matters,

    how is the duty calculated under the Maharashtra Stamp Act?
    A The duty is calculated only for the primary matter involved Correct Answer Incorrect Answer
    B The duty is calculated based on the maximum duty applicable to any one matter Correct Answer Incorrect Answer
    C The duty is calculated as the sum of the duties that would apply to separate instruments for each distinct matter Correct Answer Incorrect Answer
    D The duty is fixed, regardless of the number of matters involved Correct Answer Incorrect Answer
    E The duty is waived for instruments involving multiple matters Correct Answer Incorrect Answer

    Solution

    Explanation: Section 5. Instruments relating to several distinct matters: Any instrument comprising or relating to several distinct matters shall be chargeable with the aggregate amount of the duties with which separate instruments, each comprising or relating to one of such matters, would be chargeable under this Act.

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