If the shares are transferred by way of gift then whether the stamp duty is required to be paid or not?
If the shares are transferred by way of gift then whether the stamp duty is required to be paid or not?
Yes, as per Article 62(a) of Indian Stamp Act 1899, duty is payable @ 25 paise for every Rs.100 or part thereof of the value of the shares. Hence even if consideration is NIL, stamp duty is payable.
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