Dear Member,
Our company's registered office is situated in Gujarat state. The transferor is based out in Haryana and transferee is based out in Maharashtra State. Board meeting to approve share transfer will be held in Noida (UP) state.
Please let me know in which state we need to pay stamp duty on transfer of shares (on share transfer form).
awaiting for your valuable advice.
Regards
Stamp duty is applicable in the state in which share are issued not in the state where the company has registered office.
so stamp duty shall be in accordance with Noida.
other views are solicited.
Rate of Stamp duty on transfer should be charged as per the State of U.P. (Noida) where cause of action arises.
Rate of Stamp duty in UP
Stamp duty for transfer of shares is 25 paise for every Rs. 100 or part thereof of the value of shares.
Wait for other opinions.
Thanks
stamp duty on transfer of shares is leviable by central govt as per indian stamp act which is 25 Paise for every Rs. 100 for every state therefore it is immaterial where the regtd office is situated or transferee or transferor reside or board meeting held.
Correct me if wrong
Thank u so much members for shraring ur views.
CAclubindia
