What is the procedure to pay Stamp duty on Share Certificate as per Companies Act 2013,?
Can the share certificate be franked? What is the procedure for franking?
A private limited Company incorporated in Mumbai, Maharashtra in July 2016, has 4 shareholders, the company has to issue share certificate to its shareholders holding shares 3000, 1000, 3000 and 3000 of Rs 10. each. What is the rate of Stamp duty to be paid ? can these certificate be franked ?
Please suggest.
Thank you.
1) Stamp duty has to be paid as per Maharashtra Stamp Act 1958 and not Companies Act 2013.
2) Rate of stamp duty in Maharashtra is Re.1 for every Rs.1,000 or part thereof of value of shares.
3) Yes, franking can be done for stamp duty.
Thank You Sir.
Can you tell me the procedure for Franking of Share certificates?
BHUPINDER SHAH AND COMPANY
New Delhi
CA Inter
View Details
Gowra Ventures Pvt Ltd
Hyderabad
CA
View Details
Triveni Turbine Limited
Bengaluru
CA
View Details
CAclubindia
