stamps to be affixed on share certificate
This query is : Resolved
SWAPNIL B PATOLE
(Querist)
23 December 2010
My Co. is Public ltd. Maharashtra. Face value of Share rs. 10 & Premium Rs. 10. The Stamp affix to share certificates are of Rs. 10/- Pls. tell me is it excess stamp duty paid??
I think Stamp to be affix should be of Rs. 5/-
I think Stamp to be affix should be of Rs. 5/-
Ajay Mishra
(Expert)
23 December 2010
If the stamp duty is Rs. 10 then you will pay the same.
For transfer of shares:
25 paise for every Rs. 100 or
part thereof (approx. 0.25%)
For transfer of shares:
25 paise for every Rs. 100 or
part thereof (approx. 0.25%)
23 December 2010
Please refer the rates of stamp duty on share certificates as per the Bombay Stamp Act.
to the best of my knowledge it is Re. 1 for every Rs. 100/- of market value. hence if the MV is Rs. 20/- the stamp duty is Re. 0.20
If many certificates are to be issued, the best way is to pay consolidated stamp duty.
to the best of my knowledge it is Re. 1 for every Rs. 100/- of market value. hence if the MV is Rs. 20/- the stamp duty is Re. 0.20
If many certificates are to be issued, the best way is to pay consolidated stamp duty.
udit sharma
(Expert)
23 December 2010
Undoubtedly agreed with Expert Rasesh!
SWAPNIL B PATOLE
(Querist)
28 December 2010
Thank you all.
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