SEBI Says – No Stamp duty to Open Demat Account

The Securities and Exchange Board of India (SEBI) has introduced a set of new guidelines. According to these guidelines, investors are not required to pay stamp duty for agreements on the demat account.

SEBI has simplified the provisions of agreement between a depository participants and demat account holder with a new document titled ‘Rights and Obligations.’

The new guidelines are likely to help reduce the cost of registration in security markets.

Source – Economictimes