Cross sign on revenue stamp affixed on share certificate

[Bidu Bhusan Dash]

Dear Members,

Share certificate has to be signed by two directors of the company and by the authorized person but my query is whether the revenue stamp affixed on the share certificate has to be cross signed or not..............please share your experience  ?

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Regards,

Bidu

[Amit]

Revenue Stamped is affixed and canceled with the Common seal of the company and not required to be crossed signed by the director or Authorised signatory.


Regards
Amit
ACS
Delhi

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[Bidu Bhusan Dash]

Dear Amit,

Only affixing revenue stamp on the share certificate suffice the purpose............or we have pay stamp duty on the share certificate along with affixing the revenue stamp on the certificate.......please clarify

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Regards,

Bidu

[Soumitra Chawathe]

Dear Bidu,

Amit is right. After affixing revenue stamp (on the face of the certificate), affix common seal of the Company over it. This is a standard practice followed.

In case you are attaching separate sheets for affixing revenue stamps, cancel it by drawing horizontal lines across the stamps so that its cuts the stamps into two.

Soumitra

[Soumitra Chawathe]

If stamp duty is less and you are comfortable with affixing stamps, go for it. If it is huge, I would suggest that you go for franking of the same.

Soumitra

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Regards,

Bidu

[Bidu Bhusan Dash]

Dear Soumitra

Now its clear to me...........actually earlier what we did............like only affixed a revenue stamp on the face of the certificate is sufficient, then no need to pay any stamp duty on that..........Iam talking about only private companies...........now I think so many private companies are continue this practice also.

Thanks Soumitra   

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Regards,

Bidu

[Astarag]

As per the stamp act any Adhesive stamps should be cancelled. it may be by signing across or drawing lines across

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Regards,

Bidu

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With 

Cs. P.A. Patnaik

[Nishi jain]

dear all,

in case of franking of share tranfer deed. what next to be done regarding cancellation

Kind Regards

CS Nishi Jain

[Astarag]

cancellation not required

as the stamp duty is already in goverment treasury and you can not re use the papers franked for other pupose (where stamp duty is payable)
in simple -in case of adhesive stamps there is the possibility to re use. so cancellation is required like in case of postal stamps

[Nishi jain]

Thanks

sir can we pay tranfer deed fees on face value of share (late with penalty). As in before we are just franking the document in a private company. and register the tranfer of shares in books.

[Amit]

Dear Bidu,

 No need to pay any stamp duty in case of issue of share certificate, it is only required at the time of transfer of shares.


Regards

Amit

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Regards,

Bidu

[CS Neha Gupta]

And in the case where the Companies are not having common seal then how to cancel the stamps??