Get 3 Yrs of CCI Pro Membership at Greater Value. Subscribe Now!

Stamp duty on spliting of shares

846 views

Save Share

Join Us Follow Us Add as Source

venkat karthik

Student CS

25 Points Posted on 25 January 2013

Hi members,

When the shares are splitted, we need to pay stamp duty again on the splitted shares, where we already paid stamp duty on shares before splitting.

Can anyone suggest on this.

Thanks & Regards,

Karthik

Replies (2)

Ankit Mangal

43 Points Posted on 25 January 2013

My point of view there is no need to pay stamp duty on spliting of share because stamp duty already paid on such share and split transaction does not change ownership.

Mitali Agarwal

Company Secretary

639 Points Posted on 25 January 2013

Agree with view of Mr. Ankit.

Stamp duty has to be paid on share allotment. So split of share certificates does not attract stamp duty. You can specify on the new (splitted) share certificates that the "Stamp Duty paid through challan no._________".