Consequesence of non payment of stamp duty

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Tanuja Pawar (Querist)
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25 March 2010 It is compulsory to pay stamp duty on share certificate? if yes then under which section is mandatory?

what the consequenses of non payment of stamp duty on share certificate?

Ankur Garg

Ankur Garg (Expert)
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25 March 2010 It is desired by Companies (Issue of share certificate) Rules, 1960.

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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25 March 2010 Section 11(e) of the Indian Stamp Act,1899 says an instrument of transfer of shares should be duly stamped.
Non compliance of this section read along with section 108 of the Companies Act,1956 leads to the conclusion that such a transfer shall not be valid.

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