Stamp act

KUNNAL MALHOTRA (Querist) 07 October 2014 This query is : Resolved
If stamp duty has been paid on certificate of convertible preference shares, then upon conversion, whether stamp duty is again payable on the equity share certificates to be issued.

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N.K.Assumi (Expert) 08 October 2014
Stamp once paid for a particular purpose and acted upon it can not be reuse for another purpose.

T. Kalaiselvan, Advocate (Expert) 13 October 2014
The stamp duty where ever applicable is to be paid accordingly, in your case if the stamp duty is payable subsequently also, you have no choice.

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