18 October 2016
The Company is in Maharashtra, Transferee and transferor of the shares are in Maharashtra My question is 1. Whether stamp duty payable on transfer of share is to be paid to Union Government? 2. Whether Stamp duty payable on issue of new share certificate because of above mentioned transfer is to be paid to state government? 3. Whether revenue stamp can be used to pay stamp duty to Union Government? Is it need to be signed and stamped by any government authority? 4. What are the types of adhesive stamps available for paying stamp duty in Maharashtra on share certificate issue? Thanks in advance
18 October 2016
There is a lot of confusion and there are different people doing things differently. Please refer to this article http://insiderview.comparebrokerages.in/stamp-duty-demystified/ I would take the following position: 1. State Govt - Maharashtra (Refer NSE website https://www.nseindia.com/int_invest/content/tax_other_taxes.htm ) 2. Yes 3. I dont think so. You can frank the Contract Note at Stamp office 4. I dont know.
By all fairness, if possible get in touch with one of the broking firms. 2.
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