wht is stamp duty rate on share certificate in kolkata and harayana
if any one knw then plz let me knw tht urgently
Stamp duty on transfer of shares in a company or body corporate - It is 50 Paise for every hundred rupees or part thereof of the value of share. [It is 75 Ps as per Article 62 of Schedule I to Stamp Act, reduced to 50 Ps per Rs 100 vide notification No. SO 198(E) dated 16.3.1976]. As per section 21, the duty has to be calculated on the basis of market price prevalent on date of instrument and not on the face value of shares.
LAXMIKANT JAIPURKAR
(Practicing Company Secretary/Tax Consultant)
(403 Points)
Replied 13 July 2009
Dear Deepak, Can you confirm that the said stamp duty is applicable in which state ? Under whict act it applies. Whether State Stamp Duty Act or Indian Stamps Act ?
CAclubindia
