Allotment of share and payment of Stamp duty by unlisted public company

[shilpa jain]

Hi all,

Can anyone plz guide me in the following matter:

1.Checklist for allotment of Equity Shares on premium by an unlisted public ltd. company(originally incorporated as Pvt. Ltd. Company)  

2.Stamp Duty on issue of shares directly in DEMAT account of Shareholders means there is no issue of physical Share Certificate, how we will pay the Stamp Duty @ .1%

Can we paid directly in stamp office by draft or by way of franking on physical certificate in the name of depository for such number of shares as going directly in to account in respect to respective DP.

Plz share your views in the matter.

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With Best Regards,

CS Shilpa Sogani
B.COM(HONS.), M.COM, ACS, LLB(P)


       

[kaustubh shevade]

Hi Shilpa,

there are 2 ways:

1) To issue shares in share certificate and then send it for dematerialiastion. In this case, you would be required to pay stamp duty as required, as there are physical share certificates, by pasting revenue stamps on the same or by franking with the requisite amount.

2) and Futher directly credit the shares to the Demat of Shareholders or allottees. In this case, no stamp duty will be paid, as no stamp duty will be applicable on the shares in Demat Mode.

These are modes irrespective of premium.

       

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Thanks & Regards,

 

Kaustubh P. Shevade

 

 

 

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[shilpa jain]

thanks Kaustubh...