Stamp duty on issue of duplicate share certificate

5326 views 3 replies

Hello Friends,

 

When duplicate share certificates are issued by the company when requisition is received from the shareholder (due to loss by fire, theft etc.) then do the company has to again pay stamp duty on issue of DUPLICATE share certificate ?

 

Please reply my query.

 

Regards,

Neha Jain

Replies (3)

As per The Bombay Stamp Act, 1958

Schedule I (Stamp Duty On Instruments)

COUNTERPART OR DUPLICATE of any instrument chargeable with duty and in respect of which the proper duty has been paid. >>>The same duty as is payable on the original, subject to a maximum of rupees twenty.
.
Payment of stamp duty differs from state to state. So, refer the stamp act of the concerned state(where the regd. office of the company is situated) legislation dealing with stamp duty.
.
https://www.sa-dhan.net/Adls/Legal/Company/Act/PriAct/BombayStampAct1958sch-1.pdf

https://groups.google.com/group/csmysore/browse_thread/thread/5d1f25fcfb8316ae/fbcc56f687981906

https://groups.google.com/group/csmysore/browse_thread/thread/c70cf19b1bd2178c/730d8b646e7e9b9c

https://www.lawyersclubindia.com/forum/stamp-duty-for-duplicate-share-10882.asp

Thanks deepak. Info and links shared by you are wonderful.

 

I have checked Rajasthan Stamp Act since that is applicable in my case. It says -

 

Counterpart or duplicate on any
instrument chargeable with duty and
in respect of which the proper duty
has been paid, --

 

(a) if the duty with which the original           The same duty as is payable on the original.
instrument is chargeable does not
exceed three rupees;

 

 

(b) in any other case.                                                Ten rupees.
 

 

So i think in my case 10 Rs. shall be paid on issue of duplicate share certificate.

 

Neha Jain

 

 

 

 

CORRECT FOMATTING :

 

Counterpart or duplicate on any
instrument chargeable with duty and
in respect of which the proper duty
has been paid, --

 

(a) if the duty with which the original           The same duty as is
instrument is chargeable does not               
payable on the original.
exceed three rupees;

 

 

(b) in any other case.                                                Ten rupees.
 

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