Share transmission/transfer

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CS Alpesh Dhandhlya (Querist)
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01 August 2012 Dear Sir
I want legal view on if Mr. A is a share holder and he died then his shares can be nominated to his legal heir (i.e. Mr. B ) just by Application and requisite formalities i.e. Without Stamp Duty. But my Question is if the shares are directly transferred from Mr. A to Mr. C ( i.e.Mr. B’s Son ).Whether the Stamp duty is applicable? And what formalities are required to be followed?
Mr. B has no objection in it and ready to give affidavit on it. All documents are available.
WILL mentions nothing.

Amol S Joglekar

Amol S Joglekar (Expert)
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02 August 2012 The exemption is given to legal heirs. C being grandson/daughter, stamp duty exemption is not available. It will amount to transfer from B to C. (Only thiong is we are avoiding the clerical work of transfer from A to B and then B to C.) Stamp duty does not aim at reducing clerical work.

CS Alpesh Dhandhlya

CS Alpesh Dhandhlya (Querist)
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03 August 2012 Dear Sir
Thank you so much

But My question is if the name of Mr. C is available in Proper Nomination made by the Mr. A at the time of acquiring the Shares in the Share Application and Share Certi..
Hence there is NO TRANSFER, and if no transfer Form how the stamp duty is applicable?

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