Stamp duty on Share certificate - whether premium to be included?

[Raghuraman V]

Dear All,

 

Do we need to include the premium amount while calculating the stamp duty for Share certificate?

 

Kindly clarify.

 

Regards

Raghu

[shilpa kasliwal]

Dear Raghuraman

it depends on State act..in Rajasthan the stamp duty is payable on face value of shares....

As per stamp act on instrument Certificate or other document, exer- cising the right or title of the holder thereof or any other person, either to any shares, scrip or stock or any incorporated company or other body corporate or to become proprietor of shares, scrip or stock in or of any such company or body stamp duty shall be One rupee for every one thousand rupees or a part thereof, of the face value, of the Shares,Scrip or Stock.

So plz refer your applicable stamp act.

With Regards,

Shilpa

 

--
Find eNewsletters of ICSI Mysore at: http://www.icsi.edu/NewsEvents/enewsletters/tabid/1757/Default.aspx AND www.esnips.com/web/icsimysore
 
You received this message as you are subscriber. To unsubscribe email to: csmysore-u...@googlegroups.com

[Vivek Hegde]

Dear Member,

Here is the extracts of Karnataka Stamp Act:

1[Art.16. 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

So it is on the total value including premium. See the rules in your state.

Warm Regards

CS Vivek Hegde,B.com, ACS, CWA
Company Secretary in Practice
No. 405, 4th Block, 7th Cross
Koramangala, Bangalore-560034
Mob: 09019756940/09900898223