The company is conducting Board meeting in Maharashtra for allotment of shares and has issued instrument of shares i.e. share certificate in Daman.
Please let me know whether company have to pay stamp duty @ Maharastra or Daman?
Regards,
Sonam
Menu
Payment of stamp duty on share certificate
Replies (1)
Dear
It is essential to know the State in which the Registered Office of your company is situated to ascertain the amount of Stamp Duty.
Under the Bombay Stamp Act (BSA),
Article 25(da) of Schedule I of BSA states that: the stamp duty for conveyance relating to order of the H.C. u/s 394 of the Companies Act is to be as follows: - 10% of the aggregate of the Market value of the shares allotted in exchange and the amount of consideration paid for such amalgamation, Provided that, the amount of stamp duty chargeable shall not exceed: ◦ 5% of the true market value of immovable property of the transferor company situated in Maharashtra; or ◦ an amount of 0.7% of aggregate market value of shares issued/ allotted in exchange and the consideration paid for such amalgamation; Whichever is higher of the two.
Hope u got Clarfied
Regards
Spread Knwoledge to get Knwoledge
Recent Threads
- Foreign income and bank account
- Unorganised chit amount
- LTCG tax late payment interest
- Post pension deposit in Swiss account
- Max FD super senior citizen can make.
- Capital Gains Tax Bonds
- Timing difference in availment of ITC reporting in
- Import of goods and igst related
- DGFT licence port mismatch with Postal (PAD) impor
- Tax on sale property (Land)
Related Threads
CAclubindia
