In one of our companies, shares have been transferred at a consideration of Rs. 6 crores. The share transfer duty as per law amounts to Rs. 1.5 lacs. My questions here are:
1. Is there any maximum limit of stamp duty payable in share transfer?
2. How to affix the stamps of Rs 1.5 lacs as the space provided in share transfer deed is limited ?
Hi khushboo, I dont think there is any maximum limit on stamp duty. It is to be paid as 25p. for per Rs.100. You can paste the stamps on A4 sheets ( you can paste in half overlapping way) and attach them with the respective share transfer form.
Dont forgot to cancel those stamps either thru the round stamp of the company or by pen.
Murali and Sumeet Chartered Accountant
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