Stamp Duty on Share Certificate
This query is : Resolved
Anil Jacob
(Querist)
26 April 2009
Sir,
We had issued capital of 30,000 shares @10=300,000 (Authorized Capital 50,000 shares) when incorporated as a PVT Ltd Company. We have issued 5000 shares@25 (10 Face Value+15 Premium)to 3 of our related party. What is the formality to issue a share certificate to them?. How much is the stamp duty?
We had issued capital of 30,000 shares @10=300,000 (Authorized Capital 50,000 shares) when incorporated as a PVT Ltd Company. We have issued 5000 shares@25 (10 Face Value+15 Premium)to 3 of our related party. What is the formality to issue a share certificate to them?. How much is the stamp duty?
CA. B.SRINIVASULU
(Expert)
26 April 2009
The stamp duty depends on state to state. You have to approach the concerned registrar of your company's jurisdiction. Since at the time of formation you would have paid the stamp duty on 500000 nominal capital. Now you are issuing at Rs.15 preium. Only on the additional amount of Rs.15*5000 ie for Rs.75000 you have to pay the additional stamp duty. After paying the same you can issue shares.
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Anil Jacob
(Querist)
27 April 2009
Thanks for the information. My company is located in Bangalore. Can you please tellme the rate in bangalore?. I have got a share Certificate format. Can I use any fornat for share certificate? Can I issue share certificate before paying the stamp duty as We already collected the money 1 month back.?
Thanks
Thanks
CS Vivek Hegde
(Expert)
27 April 2009
In Karanataka it is Rs 1 for consideration of Rs 1000. Stamping authorities will not allow stamping after it is issued or signed.
Vivek Hegde
Vivek Hegde
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Anil Jacob
(Querist)
27 April 2009
Thank you for help Can you please tell me the Registrar address. My office is at BTM Layout , bangalore
CS Vivek Hegde
(Expert)
28 April 2009
I think it is in BDA Complex Koramangala..Ist Floor..
Hey u r near to my office..its also in koramangala..
Cheers
Vivek Hegde
Hey u r near to my office..its also in koramangala..
Cheers
Vivek Hegde
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Anil Jacob
(Querist)
28 April 2009
Oh Is it?. whats your office name?. Thanks for all your help
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