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Stamp Duty on transfer of Debentures

Co Act 2013 638 views 3 replies
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Deputy Accounts Manager
95 Points Posted on 28 June 2021

Hello All,

An Private Limited Company (Say A Pvt Ltd) has allotted Optionally Convertible Debentures to other Private limited Company (Say B Pvt Ltd) in Year 2014.

In 2018 the B Pvt ltd transferred that Debentures to C Pvt Ltd.

In Such case is stamp duty payable by A Pvt ltd for Transfer of Shares. Please advice.

 

 

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On 28 June 2021 at 09:01 Report
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210 Points Posted on 28 June 2021
Article 27 of the Indian Stamp Act has been amended so stamp duty is 0.005% for issuance of debentures and 0.0001% for transfer and re-issue of debentures . ... Further, all types of debentures, whether secured or unsecured and whether marketable or not, now attract stamp duty at the same rate.
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On 28 June 2021 at 10:15
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Deputy Accounts Manager
95 Points Posted on 28 June 2021

Hello Prabhat ,

Stamp duty is payable by A Pvt Ltd or B Pvt Ltd as B Pvt Ltd has transferred the debentures ???

 

 

1 Reply
On 28 June 2021 at 10:36
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127 Points Posted on 28 June 2021
Hello , if debentures are listed on stock exchange or if shares are not listed but is in demat form then such stock exchange or depository will collect the duty but in case of pvt company or where shares are not dealt in demat form the buyer/beneficial owner/transfree will be liable to pay duty
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On 28 June 2021 at 19:45


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