STAMP DUTY ON SPLIT OF SHARE CERTIFICATE ???

[CS Simranjeet Singh]

Dear All

Can any one pls let me know whether any stamp duty is required to be paid on new shares certificates issued upon splitting in the state of Delhi ???? 

 

 

Regards,

Simranjeet Singh

Associate Company Secretary

Excellence is the result of caring more than others think is wise, risking more than others think is safe, dreaming more than others think is Practical and expecting more than others think is possible.

   

[Jayashree Chandrasekaran]

No stamp duty is payable on split....in the new share certificate you must mention that this certificate is issued in lieu of Cert No......

Jayashree

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C.JAYASHREE
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98840 17120

[Devansh Garg]

NO. simply it is written in chandrate also, because the share split is already covered by stamp duty paid.

On Thu, Jul 24, 2014 at 3:47 PM, CS Simranjeet Singh <beingcompa...@gmail.com> wrote:

[Vaibhav Jain]

Yes, I do agree. No need to pay stamp duty again on the split of shares.

[Devansh Garg]

because at the time of this new share certificate on that stamp duty is already paid. simple logic.

[CS Simranjeet Singh]

ok thanks to both of you.. one more doubt i have whether stamp duty is to be paid for the shares certificates issued to subscribers at the time of incorporation of a co.. actualy the shares which hav been splitted are those which were originally subscribed by the first subscribers on which no stamp duty is paid.. now they are transferred and then splitted into new.. though we have affixed share transfer stamp upon transfer but i need to know whether on new share certfs issued upon splitting we need to pay any stamp duty as no stamp duty was paid at the time of originial subsribers for share certificates issued in the beginning.. ??

 

 

Regards,

Simranjeet Singh

Associate Company Secretary

Excellence is the result of caring more than others think is wise, risking more than others think is safe, dreaming more than others think is Practical and expecting more than others think is possible.”

   

[Devansh Garg]

u can paid the stamp duty on that share certificates in order to avoid breach of law.

[CS SRIKANTH NNS]

Dear Sir/Madam,

Only during a transfer the Stamp duty is paid and not anytime other than that so split does not require the stamp duty at all. If they are splitting and transferring then yes you are attracting transfer of shares for which you have to pay the stamp duty and definitely not for the split of shares.


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Thanks & Regards

 CS SRIKANTH NNS

B Chagan Lal & Associates

Company Secretaries

[CS Simranjeet Singh]

but if no stamp duty is paid on original share certfs which were now transferred and splitted into new, then how we can prove stamp duty is already paid and it need not be paid again upon splitting ?

[Jayashree Chandrasekaran]

you will have to pay the stamps for the original share certificates

[sachin kumar]

Stamp duty will pay at time of share transfer nd allotment...