Stamp duties on issue of shares
Karthik N
(Querist) 18 April 2008
This query is : Resolved
Is stamp duties payable at the time of issue of share certificates? Stamp duties would have been paid while incorporating a company or increasing it's share capital. But is it again payable while issue of sahres?
If answer is yes, what rates of duties are applicable in karnataka?
Manish Singh
(Expert) 19 April 2008
Yes, Stamp duty is payable on issue of shares certificates.
Art.16 of the Karnataka Stamp Act's Schedule:-
Certificate or other document evidencing the right or title of the holder thereof, or any other person, either to any share, scrip or stock in or of any incorporated company or other body corporate or to become proprietor of share, scrip or stock in or of any such company or body.
One rupee for every one thousand rupees or a part thereof of the value of the share, scrip or stock.
