The proposed Bill to amend the Indian Stamp Act of 1899 has sought to increase the maximum penalty to Rs 1 lakh for various offences, compared with a few hundred rupees at present.According to the draft, circulated by the Union finance ministry for comment, if a share warrant is issued without being duly stamped, the penalty on those executing or signing it will increase from Rs 500 at present to Rs 1 lakh. In the case of any other instrument chargeable with duty, such as debentures or preferential shares, the fine will be Rs 10,000.

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