Amount recd. on sale of mutual fund

This query is : Resolved

Neha Julka (Querist)
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18 July 2013 Can anybody please tell me that the affidavit that we have to make as per MCA Circular No. 11/2013 dated May 29, 2013, on what value of stamp paper do we need to take it?

Pawan Sharma

Pawan Sharma (Querist)
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18 July 2013 RESPECTED ALL,

ONE OF MY CLIENT RECEIVE RS. 7 LAC ON SALE OF MUTUAL FUND WHICH SHE RECEIVED FROM HER HUSBAND WHO PURCHASED THAT 20 YEARS BACK. NOW SHE DON'T KNOW THE PURCHASE PRICE TOO. PLZ GUIDE ME IS IT TAXABLE OR NOT, IF TAXABLE HOW CAN I CALCULATE TAX

THANKS & BEST REGARDS

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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18 July 2013 WITHOUT KNOWING THE NATURE OF UNITS AND DETAILS ABOUT THE FUND- AS REGARDS-WHETHER EQUITY ORIENTED OR DEBT ORIENTED, IT IS DIFFICULT TO ANSWER.
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TRY TO ASCERTAIN FROM THE BANK DETAIS AVAILABLE- CORRESPONDENCE FROM THE MF ETC.
THE PARTY SHOULD BE INSISTED TO AVAIL THE RELEVANT DOCUMENTS.
.

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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18 July 2013 Neha Ji

Circular is silent about stamp value. So you may choose the rate from the state stamp act wherein the company is being incorporated. I prepare in Rs.100/- worth stamp paper for the companies having regd office in KERALA which ROC, Kerala is accepting.

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Rajat Poddar

Rajat Poddar (Expert)
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18 July 2013 Agreed with the Experts...

Ajay Mishra

Ajay Mishra (Expert)
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18 July 2013 Hi

If you are giving affidavit on Rs. 20/- stamp paper, then also it will be acceptable. its depend on you, at which amount you wanted to purchase of stamp paper.

Please read your State Stamp Paper Act carefully.

Guest

Guest (Expert)

18 July 2013 We use Rs. 10/- stamp paper in Rajasthan.