Dear All,
Presently Share Transfer Stamp Duty is 0.25 paise per Rs. 100 Consideration amount.
I want to know is there any cap of maximum duty to be paid on Share Transfer.
For Example
If Stamp duty to be paid on share Transfer is Rs. 50,00,000 (worked out on the basis of 0.25 paise per Rs 100 Consideration amount)
Is it mandatory to pay Rs. 50,00,000/- or is there any maximum limit provided in the Act for lesser amount?
Thanks & Regards
Yes, it is mandatory to pay share transfer stamp and here is not maximum limit.
Agree with sonam ...there is no maximum limit
Do not worry….you won’t found any relaxation as far as payment of revenue to govt. is concerned.
In stamp act only formula to calculate stamp duty is given without any upper or lower cap on stamp duty amount.
Tx
CAclubindia
