Procedure after payment of stamp duty on transfer & allotmen

Originally posted by : Dhara
	Dear all, I have paid stamp duty on transfer and allotment of shares what needs to be done next in case of private company????

Please elaborate your query in detail. Are u talking about transfer of shares?

Hi Arjun,

i want to know the Procedure for both Transfer of Shares as well as Allotment of shares

1) In one Company there is transfer

2) In one company there is an allotment

for both the cases i have paid Stamp Duty online. Now what i need to do ahead for both

From the point of view of company,

1. In case of transfer if the share transfer form (SH-4) is found to be in order ie signature of transferee matches with the records of the company, attached share certificate along with share transfer form then company must  endorse the name of trasnferor in the backside of the share certificate and issue the certificate within 30 days from the date on which share transfer form was received to the transferor. The despatch mode should by speed post/registered post. Kindly keep the proof of despatch. There after company must update the register of members.

2. In case of allotment only change is certificate must be issued within 60 days from the date of board meeting approving the allotment. The certificate shall be signed by two directors and by an authorised person. If there is MD he must sign the same. Remaining procedure is same. Common Seal is not mandatory as per Companies Amendment Act, 2015.

Regards,

Arjun Rajagopal

Thank u so much . But do we need to send the transfer deed, challan copy  along with Share certificate to revenue department for franking ??? or it is not applicable for pvt Co. ? i just need to follow the procedure u mentioned above

Originally posted by : Dhara
	Thank u so much . But do we need to send the transfer deed, challan copy  along with Share certificate to revenue department for franking ??? or it is not applicable for pvt Co. ? i just need to follow the procedure u mentioned above

Hi Dhara,

Iam not familiar with franking rules. Since Franking is allowed only in few states It is better to contact the revenue dept on the matter.

Regards,

Arjun Rajagopal