Stamp duty on share allotment
P.C. Joshi
(Querist) 25 November 2011
This query is : Resolved
Dear Friends,
Now a days we come to know that collecter of stamps in Delhi and other states are issuing notices to companies for default in payment of stamp duty in share certfcate on allotment of shares. Some of you must have come across thi sissue recently. I have some queries in this repect can any one please clarify.
1. WE PAY STAMP DUTY WHILE INCORPORATING A COMPANY AND ALSO WHILE INCREASING THE AUTHORISED CAPITAL. Then what else is the stamp duty payable on allotment.
2. If yes it is payable what is the rate and how the stamping is done i mean is it a self adhesive stamps or embossed on the share certifcate and the systems woks.
3.What is the option for the companies who have viloted this norm.
4. Suppose a company sou moto wants to comply with the stamp duty payment for past as well as future cases what should it do. WHich office in Delhi should be contacted.
5. I understand that in Haryana there is a stamp duty of Rs 10/- irrespective of quantum/amunt of shars capital issued. SO some company are showing the palce of allotment/board meeting in haryana is it valid.
6. In case any notice has been receibved what reply should be given at the first instance.
Looking forward to plenty of responses on this matter.
Thanks & Regards
P.C. Joshi
B.Com, ACS, LLB
Raj Kumar Makkad
(Expert) 25 November 2011
1. This question can be asked from collector.
2. Same reply.
3. Shall have to face its consequences.
4. Collector of Stamps, CGO Complex, Lodhi Road, New Delhi.
5. Yes.
6. As per contents of notice.
P.C. Joshi
(Querist) 25 November 2011
Dear Mr Makkad,
Thanks for your reply. But the replies which you have given are known to me also. I need specific replies, if anyone know pls respond.
Thanks
Devajyoti Barman
(Expert) 26 November 2011
What specific reply are u looking for?
P.C. Joshi
(Querist) 26 November 2011
to my q. 1,2 &3 in the light of applicable law.
thanks
