Stamp Duty Rate on Transfer of Physical Share Certificate

[Hardik Pawar]

Dear Sir,

In the recent amendment to Indian stamp act pursuant to the Finance Act, 2019, changes have been made w,r,to the collection of stamp duty (to be done by Central Govt which will then be routed to the respective state governments).

The amendment in Schedule - I of the Indian Stamp Act specifies the rates of stamp duty on transfer of securities other than debentures - on delivery basis and non-delivery basis. 

But does not clarify the rate of stamp duty on transfer of physical share certificates.

Kindly throw some light on: -

1. The rate of stamp duty on transfer of physical (non-demat in the State of Maharashtra) share certificates considering the recent amendment in the Indian Stamp Act.

2. Procedure to be followed for the same.

Thanks in advance.

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Warm Regards,

Hardik Pawar

9773359801

[V Kartik]

Stamp duty on transfer of physical shares w.e.f. 1st July 2020 is 0.015% of the transaction amount.

Kartik

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[CA Mohit Shah]

The process is as follows - 

Transferor will give notice to company for transfer of shares 

Company will offer shares to existing shareholders 

Transferor will submit Share Transfer deed and will surrender share certificate 

Company will record the share transfer and issue the share certificate to Transferee 

(*Assuming there is no splitting of shares)

Stamp Duty rate for transfer of shares is 0.015%

Thanks & Regards,

CA Mohit Shah
Mohit S. Shah & Co.
Chartered Accountants

+91 9821462283

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[Charu Chawla]

Hey all!

Need some clarifications on transfer of shares through gift deed, is the stamp duty to be paid in this case also ,if yes then on which amount as there is no consideration involved.

Pls advise

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Thanks and Regards

Charu Chawla

M. No-9899875901