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Stamping of share certificate

Renu Goel (Company Secretary) (207 Points)

12 June 2013

Dear Friends

Can someone please explain the detailed procedure of Share Certificate
Franking in Delhi along with the documents required to be send to the
SDM.

Recently i have been advised that affixing revenue stamp on Share
Certificates has been disallowed in Delhi. Can someone pls provide the
particular notification also?

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3 Replies

poonam verma (Company Secretary) (191 Points)
Replied 12 June 2013

There is no notification issued in this regard. However notices were send to some Companies by the Revenue Department for payment of stamp duty on share certificate and department was not accepting payment of duty through revenue stamps.

You need to deposit the share certificate along with F-2 (with Challan), list of Directors, shareholders and an application form prescribed by the department itself to the department.

However i am not aware of the latest happenings in this matter. If any other member is having knowledge than pls update us also.

Thanks,

Poonam

Sarvesh (Company Secretary) (179 Points)
Replied 13 June 2013

Hi, please find below the procedure:

1. After allotment of shares in a board meeting, make an application to the Divisional Commissioner, Collector of stamps, Sham Nath Marg, New Delhi, for payment of stamp duty on share certificate(s).

2. After scrutiny of docs. submitted with the application, a challan will be issued by the revenue dept. mentioning therein the amount to be paid as stamp duty.

3. After depositing the said amount, the dept. will get cofirmation regarding the receipt of the said amount from Treasury Officer, if deposited amount is over and above Rs. 1,000.

4. After receiving the aforesaid confirmation, Collector of Stamp will issue a certificate mentioning therein that the applicant company has paid the stamp duty.

Following documents are required to be submitted with the application:

1. List of Directors

2. List of Allottees

3. Certified Copy of Board Resolution regarding allotment.

4. Certified copy of Copy of MOA & AOA of the Company.

5. Certified copy of Form 2 alonwith Challan.

6. Share Certificate(s)

7. POA to present the matter.

Thanks