Question

As per the Indian Stamp Act, when an instrument is chargeable with ad valorem duty in respect of any stock or security, on what basis should the duty generally be calculated?

A The market value of the stock or security
B The face value of the stock or security
C The amount initially invested in the stock or security
D The dividend or interest earned on the stock or security
E The projected future value of the stock or security
Practice Next

Hey! Ask a query