Stamp duty on share certificaetes

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Querist : Anonymous

Querist : Anonymous (Querist)

06 September 2012 Dear all,
we had paid stamp duty on share certificates till 2011 as per haryana rates though our reg. office is in delhi.now we are paying stamp duty as per delhi rates because of collector rules, but authority is asking for our previous records.
now can anyone tell me if we had our board meeting in gurgaon in which we issued share certificates so can we pay the duty as per gurgaon rates? and what is the penalty?is there any way to get rid of from this?

Guest

Guest (Expert)

06 September 2012
You can pay duty as per the rates in the state where board meeting is held for issue of shares.

If you show board meeting in gurgaon you can pay duty in haryana.

Querist : Anonymous

Querist : Anonymous (Querist)

06 September 2012 Dear all,
can u please refer any sec. or clause for this by using that sec. or clause we can prove that we can pay duty as per gurgaon.
please refer the sec. or clause.

Guest

Guest (Expert)

06 September 2012 Its just a general practice. Sorry, there are no clause or section in this regard.

Since stamp duty is a matter of state act so pls go through the same.

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Querist : Anonymous

Querist : Anonymous (Querist)

06 September 2012 but mam acccording to delhi act duty will be paid where reg. office is situated irrespective of board meeting held anywhere. please mam clarify it, m vry vry confused.and mam what is the penalty?please mam clarify my query.

Guest

Guest (Expert)

06 September 2012 I understand your concern. But can u pls clarify where it is mentioned in the delhi act that duty is paid where RO is situated ?

Guest

Guest (Expert)

06 September 2012 In Rajasthan stamp act -

a penalty of one hundred rupees or, ten times the amount of deficient portion thereof, which ever is higher.

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