Stamping on share certificate

[Monika Mahawar]

hello everyone....

Kindly inform whether it is required to pay consolidated stamp duty on share certificates issued to the Subscribers /Allottees if Company was incorporated in 3- 4 years before or revenue stamp can be affixed on share Certificates.

Further if Company is incorporated with 1,00,000 Capital only( in this case stamp duty is Rs. 100) whether  consolidated duty i.e. 100 will have to be paid at shamnath marg or any other alternate is available.

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Regards,
Monika Mahawar

[VIKAS GUPTA]

Hello Monika,

 

In your case you can affix the revenue stamp on your share certificate as process of paying consolidated stamp duty is very cumbersome and you stamp duty is not very high to go such a lengthy process..

 

Correct me If I am wrong...

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THANKYOU
CS VIKAS GUPTA
Assistant Company Secretary
Havells India Limited
9953620278
http://www.vikas1052.blogspot.com/

[Monika Mahawar]

hi vikas

 but i cm to knw that department will nt take the afixing of revenue stamp as correct, whether u have done it practicly

and tell me in companies incorporated 3-4 years before whether stamp duty  will have to be paid on shamnath marg?

ye sab kab s applicable h.

Regards,
Monika Mahawar

[C.S Neha Gupta]

Now It is mandatory to pay the consolidated stamp duty on share certificate with in 30 days of issue of share certificate at sham nath marg, New delhi . The department does not consider the affixing revenue stamp as the valid proof of payment of stamp duty on share certificate.  I am enclosing the form for the payment of stamp duty and format  letter to the collector of stamp for the payment of stamp duty.

*Thanks & Regards*
*Neha Gupta*

[VIKAS GUPTA]

Hey Monika,

 

Actually practically in our group we show our board meeting and issue share certififcate outside delhi i.e. in Noida or wherever...

So we didnt pay consolidated stamp duty on that...

 

In your case the company was incorporated 3-4 years back, you can affix revenue stamp of Rs. 100 on share certificate...

[Monika Mahawar]

ok if show the meeting outside delhi there is no need to pay stamp duty even if registered office is in Delhi

[VIKAS GUPTA]

Actually we normally do the same thing... As our corporate office is in Noida and all the Companies' Registered Office is in Delhi...

[bharati tyagi]

yes u have to go Shamnath Marg with Original Share certificates  with all  necessary documents

On Sat, Jun 30, 2012 at 4:22 PM, C.S Neha Gupta <nehal...@gmail.com> wrote:

[Monika Mahawar]

hi Vikas 

Please tell me whether it is not required to pay stamp duty if meeting is held outside Delhi ?

[VIKAS GUPTA]

Monika,

 

We normally affix revenue stamps on issuing share certificates...

[C.S Neha Gupta]

Hello monika

As ur company was incorporated 4 years back and it was not mandatory before 4 year to pay consolidated stamp duty so u can affix revenue stamp on share certificate

[Monika Mahawar]

thanks a lot...

[bijals...@gmail.com]

Dear All,

Can any one guide me in the procedure to affix revenue stamp on Share Certificate.

1.Whether Revenue stamp can be affixed on the separate sheet attached to the  Share Certificate as I want to affix 50 Revenue stamp on one Share Certificate?

2. Whether Revenue stamp affixed on the separate sheet required to be cancelled (procedure how to cancell it) ?

3. Whether Revenue stamp is valid way to pay stamp duty on  Share Certificate?

Thanks & Regards,

Bijal

[bijals...@gmail.com]

Awaiting reply.

[bijals...@gmail.com]

On Thursday, February 20, 2014 5:50:33 PM UTC+5:30, bijals...@gmail.com wrote:

[dheeraj gupta]

Dear Friends...

As per my view use of revenue stamp will result in payment of stamp duty to  the centre govt.  and the stamp duty on share certificate is govern by state's stamp act. So it is advisable not to use revenue stamp on certificate. Move toward to revenue deptt. of the concern state for payment of stamp duty.

Thanks & Regards
CS Dheeraj Gupta

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[Jay Naik]

Agree with Mr. Dheeraj.

It is very debatable topic.

I've seen many big Corporates use revenue stamps on share certificates.

Whereas Article 17 of  Bombay Stamp Act says:

"STAMP TO BE USED - Adhesive Stamp (Section 11). In case duty exceeding Re. 1 by Impressed Stamp fixed by Proper Officer".

So the revenue stamps is not valid.

Others views are solicited.

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Jay