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Querist : Anonymous

Querist : Anonymous (Querist)

13 September 2013 Hello Friends

Can anybody resolve me the following queries in case of gift of shares:-

1) what will be the value of stamp paper to be executed on Assam in case of number of shares are more than 10 lakhs and the face value is Rs 10.

2) Since the consideration is nil, and the revenue stamps are to be affixed @ .25% on consideration amount, how can we calculate the revenue stamp duty.

The matter is really urgent, if anybody has come across such matter, kindly suggest.

Ajay Mishra

Ajay Mishra (Expert)
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13 September 2013 In this case you will paid the gift tax as per applicable rate of state of Assam.

Read the Assam Stamp Act.

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