stamp duty on pref shares
This query is : Resolved
09 August 2010
hi,
We are in process of issuing 50,000 Pref shares at face value Rs. 10/- and at premium Rs. 990/-.
What will be the stamp duty on issue , whether stamp duty will be paid on total amount including premium or on face value of shares ?
What is mode for payment of stamp duty, can we pay it by the mode of revenue stamp ?
Regards,
Abhilasha
We are in process of issuing 50,000 Pref shares at face value Rs. 10/- and at premium Rs. 990/-.
What will be the stamp duty on issue , whether stamp duty will be paid on total amount including premium or on face value of shares ?
What is mode for payment of stamp duty, can we pay it by the mode of revenue stamp ?
Regards,
Abhilasha
09 August 2010
Stamp duty on share certificate is question of state Law.
First, check from where the share certificate is issued acordingly the state in which it is issued stamp duty of that state will be applicable.
In case certificate are issued from Bombay than stamp duty is 0.1% on value of condiseration i.e. market value of shares issued . Thus in ur case if cert. issued in Bombay than 0.1% of Issue Price i.e 10+990=1000.
In Bombay only Franking or eStamping is only means of paying stamp duty.
First, check from where the share certificate is issued acordingly the state in which it is issued stamp duty of that state will be applicable.
In case certificate are issued from Bombay than stamp duty is 0.1% on value of condiseration i.e. market value of shares issued . Thus in ur case if cert. issued in Bombay than 0.1% of Issue Price i.e 10+990=1000.
In Bombay only Franking or eStamping is only means of paying stamp duty.
09 August 2010
That means stamp duty will be paid on Rs. 50,000,000(50,000*Rs. 1,000)@.1%
09 August 2010
That means stamp duty will be paid on Rs. 50,000,000(50,000*Rs. 1,000)@.1%
09 August 2010
Right, where stamp will be 50,000, if share ceertificate are issued from Mumbai.
Message likes :
1 times
09 August 2010
Thanks Jagruti.
Is equity and pref share format same ?
Premium amount is required to be written on Share Certificate ?
Where franking is done on SC, on the front or back side ?
Is equity and pref share format same ?
Premium amount is required to be written on Share Certificate ?
Where franking is done on SC, on the front or back side ?
10 August 2010
Format can be same for both pref & Equity shares.
on share certificate only face value is stated.
Franking can be done any side as u want.
on share certificate only face value is stated.
Franking can be done any side as u want.
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- Sales return eway bill
- Treatment of Pension ?annuity returns on PMVY
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- REGARDING GST LIABILITY/....
- LTCG for Assmt year 26-27
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
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
