Finance Act, 1979
|
Amendment of section 70 (amount on which stamp duty chargeable) of Finance Act, 1973. |
51.— Section 70 of the Finance Act, 1973 , is hereby amended by the deletion in the first proviso of “the actual value or” and “(whichever is the greater)” and the proviso, as so amended, is set out in the Table to this section. | |
TABLE | ||
Provided that, in any case, the amount in respect of which stamp duty is charged shall not be less than the nominal value of the shares (if any) in the company concerned allotted to the members of the capital company in connection with the transaction or belonging to the members of the capital company immediately after the transaction: |