Share transfer
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 January 2015
There are 3 holder all alive want to delete name of 1 holder mutually agreed, now what would be the stamp duty ?
A.On whole part of Value of Shares?
or
B.On Third Part of value of Shares?
If possible please quote the relevant section.
My Argument: The Stamp Duty paid should be on Third Part only which the holder is transferring.
A.On whole part of Value of Shares?
or
B.On Third Part of value of Shares?
If possible please quote the relevant section.
My Argument: The Stamp Duty paid should be on Third Part only which the holder is transferring.
Amol S Joglekar
(Expert)
21 January 2015
Your argument may NOT hold good because the division is NOT possible of the number of shares.... The shares are owned JOINTLY and SEVERALLY.
So? All the shares need to transferred to 2 names in place of 3 names...right?
The company whose shares are under transfer is NOT concerned with the stake of each of the three owners. For that Company, the transaction is to transfer the shares from 3 names to 2 names.
So? All the shares need to transferred to 2 names in place of 3 names...right?
The company whose shares are under transfer is NOT concerned with the stake of each of the three owners. For that Company, the transaction is to transfer the shares from 3 names to 2 names.
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