Section 29 of the Reserve Bank of India Act, 1934 – Bank exempt from stamp duty on bank notes

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Section 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 issued by it.

Source: official text of The Reserve Bank of India Act, 1934 as published on India Code (PDF). All sections of the Reserve Bank of India Act, 1934.

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