Default in payment of stamp duty

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This query is : Resolved

Deepika Bhardwaj (Querist)

23 May 2012 Shares were allotted by a closely held public limited company in the year 2010 but stamp duty was not paid on the issue of share certificates at that time.

As per law stamp duty of Re.1 is payable for every Rs. 1,000 nominal value of shares in Delhi.

Please advice, can the Company pay Stamp Duty now for the shares issued in the year 2010.

How the stamp duty would be paid as the amount of stamp duty is around Rs.25,000/-.

What other remedies are available to the Company.

Mukta Suyal

Mukta Suyal (Expert)

28 May 2012 Yes Dear Deepika, now the company can make payment of stamp duty by suo moto. You can make payment in consolidated form, for the same you have to contact to the SDM offcie kit is situated near to the Civil Lines in Delhi. Then they will allot you your file date and also they will tell you that how much stamp duty is now required to be paid. Because now you have to pay both the normal plus the penalty duty.

It is a time consuming process.

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