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place of determination of stamp duty on share certificate

A K Singh (Service (Legal)) (59 Points)

26 May 2008

Dear Frns,

Our registered office is in delhi but our corporate office and factory is in Haryana.All Directors, CEO other working staff are based only at factory in Haryana.Board meetings and decesion, issue of order are only from Haryana office.

For issue of share certificate board meeting is also held in Gurgaon Haryana.

Can we we stamp duty on share certificate as per Haryana stamp act OR it is required to be paid as per Delhi act.

Please refer case law, book or section in support, if any.

Its URGENT

REgards

A Singh

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8 Replies

Neha Amol Limaye (Company Secretary) (52 Points)
Replied 27 May 2008

You have to pay stamp duty as per the state law in which company's registered office is situated. Place where board meetings are held, etc are not relevant in this case. e.g. if registered office is situated in Delhi and board meeting are held in maharashtra or out of India, stamp duty as per Delhi Laws will be applicable.

Neha Amol Limaye (Company Secretary) (52 Points)
Replied 27 May 2008

A K Singh (Service (Legal)) (59 Points)
Replied 27 May 2008

thanks for reply. Can u pls provide some reference/case/book in support.Its urgent pls.

(Guest)

We have our registered office in Delhi . Our corporate office/ dealing office is in haryana.. our board meetings are in haryana.. we have nse terminal in haryana.. most of our clients are in haryana .. some reside in delhi . where should we pay our stamp duty . we have a client agreement signed with client which gives the place of signing agreement as delhi

please reply

(Guest)

It hardly makes a difference that where you are operating, the stamp duty is to be paid is according to the registered office of the Company, which is in Delhi and Rs 1 for every 1000 shares issued which is to be paid through consolidated stamping only for a proper payment of stamp duty on shares.

ARVIND MEHTA (Service) (63 Points)
Replied 24 November 2008

Dear Frns,

For issue of share certificate board meeting is also held in Gurgaon Haryana.

Can we we stamp duty on share certificate as per Haryana stamp act OR it is required to be paid as per Delhi act.

Please refer case law, book or section in support, if any.

Its URGENT

REgards

Arvind mehta

Jaya Moorjani (Company Secretary) (21 Points)
Replied 25 November 2011

Can you please tell where it is written that stamp duty has to be paid as per the location of the regd. office only. Why we cannot pay it as per the state where Board meeting has been held?