At the time of issuance of shares of a Private Limited co, instead of getting them franked, revenue stamp was affixed behind the certificates. Will they be treated as valid share certificates? If not, what is the correct course of action now?
Lila (Job) (490 Points)
26 March 2019At the time of issuance of shares of a Private Limited co, instead of getting them franked, revenue stamp was affixed behind the certificates. Will they be treated as valid share certificates? If not, what is the correct course of action now?
Sahil Jain (FAFD, DISA, CA)
(Practicing Chartered Accountant )
(2476 Points)
Replied 26 March 2019
Lila
(Job)
(490 Points)
Replied 26 March 2019
Now if they pay stamp duty, wouldn't it look like delay in payment of stamp duty and attract penalty? What should be written as date of issuance of shares?
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