Master in Accounts & high court Advocate
9610 Points
Posted on 31 December 2024
Stamp Duty Requirements 1. _Bangalore (Karnataka) Stamp Duty_: The stamp duty for an affidavit in Karnataka is ₹100.
2. _Mumbai (Maharashtra) Stamp Duty_: The RTA is requiring a minimum of ₹500 stamp paper, as per the revised Maharashtra Stamp Act.
Executing Affidavit on ₹500 Stamp Paper in Bangalore To execute an affidavit on ₹500 stamp paper in Bangalore:
1. _Purchase ₹500 Stamp Paper_: You can purchase a ₹500 stamp paper from a licensed stamp vendor in Bangalore.
2. _Execute Affidavit_: Get the affidavit executed on the ₹500 stamp paper, ensuring it meets the requirements of the RTA. Alternative Solution: Using Multiple ₹100 Stamp Papers Using five ₹100 stamp papers, with only one containing the contents and the rest blank, is not a recommended solution:
1. _Invalid_: This approach may be considered invalid, as it doesn't meet the RTA's requirement of a single ₹500 stamp paper.
2. _Rejection_: The RTA may reject the affidavit, leading to further delays. Samename Affidavit Requirement Considering your name matches in the physical share certificate and PAN, but differs from Aadhaar (which is linked to PAN): 1. _RTA Requirements_: The RTA may still require a samename affidavit to verify the identity and ensure compliance with their procedures. 2. _Company's Policy_: It's possible that the company's policy requires a samename affidavit in such cases, regardless of the Aadhaar-PAN linking. To avoid any potential issues, it's best to: 1. _Execute Affidavit on ₹500 Stamp Paper_: Purchase a ₹500 stamp paper and execute the affidavit as required by the RTA. 2. _Consult with RTA or Company_: If you're unsure about the requirements, consult with the RTA or the company's representative to clarify their expectations.