21 November 2011
Allowability of stamp duty on increase in authorised share capital Whether stamp duty paid on increase in authorized share capital allowable exps in income Tax Act.
And if IT department disallowed the stamp duty whether penalty on that is allowable exps in Income tax Act. Please provide case laws for that explanation
22 November 2011
Please elaborate your question. Also the state you wish to refer to: in Maharashtra STamp rates are: Stamp duty shall be Rs. 1000 on every Rs.5 Lakhs of amount of increase in authorised capital or part thereof subject to a maximum of 50 Lakhs of stamp duty. However, in the case of increase of Authorised Capital beyond Rs2,50,00,00,000/-, No Stamp duty shall be payable. This can be located under the Schedules to the Stamp Amendment Act for Maharashtra you may refer the link of MCA website: http://www.mca.gov.in/MCA21/dca/efiling/eStamp_rate.pdf