STAMP DUTY
This query is : Resolved
03 June 2010
STAMP DUTY IS LEVIABLE ON ISSUE OF SHARES AS PER THE BOMBAY STAMP ACT ON ALLOTMENT OF SHARES . IN SOME TIME SHARE ARE ISSUED AT LARGE PREMIUM IN THE COMPANY HAVING FACE VALUE OF RS. 10/-OR OTHER. LIKE ISSUED AT RS.300 HAVING PREMIUM OF RS.290/-. MY QUESTION IS WE HAVE TO PAY STAMP DUTY ON RS. 10/- OR TOTAL AMOUNT INCLUDING PREMIUM.NAMELY RS.300/- THERE ARE DIFFERENCE OF OPINIUM IN THE MATTER . PLEASE KINDLY HAVE YOUR VALUABLE SUGGESTION IN THE MATTER.
L L VORA
L L VORA
06 June 2010
Duty is payable on the market value of shares issued. If the shares are unlisted, then market value has to be derived. Since shares aer issed on premium, the value with premium has to be considered for stamp duty purposes.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- Taxable or Tax exempt
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- TDS Deducted AY-2013-14 Not Reflected in 26as
- ADVANCE PAYMENT OF ADVOCATE
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- NRI starting business in India
- GST not cancelled by tenant
- Capital gain on sale and purchase of plot
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
