Sebi directs alternative investment funds to collect stamp duty

Sebi on Tuesday directed alternative investment funds (AIFs) to follow new provisions with regards to collection of stamp duty on sale, transfer and issue of units from July 1. AIFs have to collect stamp duty through a registrar and transfer agent (RTA). Sebi has asked all AIFs to appoint an RTA before July 15. "...till such time RTAs are appointed... AIFs shall keep the applicable stamp  duty  on  issue,  transfer  and  sale of  units  of  AIFs  in a  designated  bank account,” it said.