Stamp duty on FCD

Dear Sir(s)/ Madam,

I would like to have guidence on what will be the stamp duty on FCD. The registered office of the company is situated at mumbai . The issue price of DEB is Rs. 30/-. the total no of DEB will be 33,33,333.

According to me Indian stamp Act, governs Deb as a instrument for stamping( Article 27).The Bombay stamp Act , also governs the same as a instrument.

Kindly provide guidence. Thanking you in anticipation

Regards,

Mandar

 

Replies (2)

Dear Sir/ Madam,

Pls provide guidence,

Regards,

Mandar

 

unquoted FCD will not attract stamp duty under article 27 of SCh 1 to ISA 1898 as these are not marketable

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