Stamp Duty in UP

The share transfer deed should be ‘duly stamped’. Presently, in UP, the stamp duty payable is @ 25 Ps per Rs 100 of consideration (and not on basis of face value of shares). [As per Article 62 of Schedule I to Indian Stamp Act, the stamp duty payable on transfer is 75 Paise per Rs 100 or part thereof of 'value of shares'. The stamp duty has been reduced to 25 Ps per Rs 100 w.e.f. 1-3-2004, vide notification No. S.O. 130(E) dated 28-1-2004. There is no stamp duty on transfer of shares or debentures in a depository scheme.