abhinav (proprietor) (23 Points)
12 January 2017
Jatin Bajaj
(CS)
(2928 Points)
Replied 12 January 2017
According to Indian Stamp Act 1899, Stamp duty shall be payable within 30 days from date of issue of share certificate. rate of stamp duty may vary from state to state.In Delhi rate of stamp duty is Re. 1 for every 1000 or part thereof and stamp duty is paid on issue price
penality for non payment of stamp duty : if stamp duty is not paid wiyhin 30 days from date of issue of share certificate then penality shall be 1 to 10 times depending upon the order passed by the govt.
abhinav
(proprietor)
(23 Points)
Replied 12 January 2017
Thank you sir
Request you to Please update that whether stamp duty is payable on shares alloted after incorporation and transfer
or
payable on both first shares at the time of incorporation and second alloted and transferred in later years
Jatin Bajaj
(CS)
(2928 Points)
Replied 12 January 2017
Stamp duty is payable at the time when shares are alloted to shareholder at the time of incorporation and whenever there is increase in share capital , or whenever there is transfer of shares from one shareholder to another shareholder or at the time of right issue of shares
CAclubindia
