Hi
While issuing share certificate for bonus issue is there any need to issue Frankin? And if Yes what is the % & on what it is calculated.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 23 March 2010
Payment of stamp duty is an essential part ofshare certificate. However franking is not an essential method of payment of stamp duty. Rate of stamp duty depends on the state law like in UP you have to paste Re. 1 revenue stamp to the share certificate irrespective of the value of allotment.
Regards
CAclubindia
