stamp duty
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 January 2011
Hello..........
can anaybody pls tell me what are the consequences of non payment of stamp duty on issue of share certificate by closely held company? How to avoid that?Ours is closely held company and non profit making company
can anaybody pls tell me what are the consequences of non payment of stamp duty on issue of share certificate by closely held company? How to avoid that?Ours is closely held company and non profit making company
21 January 2011
Share Certificate issued without the payment of stamp duty @0.1% of the value of the shares(including premium) shall not be valid.
Experts ur opinion????
God Bless
CS Udit Sharma
Experts ur opinion????
God Bless
CS Udit Sharma
21 January 2011
Dear Udit,
Share certificate is issued to the shareholders by the company. If it is issued without stamp duty it's the fault of the company. Why will the genuine and bonafide shareholder suffer for the fault of the company? The Stamp Act must contain some penal provision for the company issuing without paying stamp duty.
Other experts please share your views.
Share certificate is issued to the shareholders by the company. If it is issued without stamp duty it's the fault of the company. Why will the genuine and bonafide shareholder suffer for the fault of the company? The Stamp Act must contain some penal provision for the company issuing without paying stamp duty.
Other experts please share your views.
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