BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Bank notes issued by RBI are exempted from payment of stamp duty as per which of the following
|
|
Section 12, Indian Stamp Act 1899
|
|
|
Section 23, Banking Regulation Act
|
|
|
Section 5, Negotiable Instrument Act
|
|
|
Section 29, RBI Act
|
Explanation:
Detailed explanation-1: -29. Bank exempt from stamp duty on bank notes.-The Bank shall not be liable to the payment of any stamp duty under the Indian Stamp Act, 1899 (2 of 1899) in respect of bank notes 1[***] issued by it.
Detailed explanation-2: –The Bank shall not re-issue bank notes which are torn, defaced or excessively spoiled.
There is 1 question to complete.