16 July 2012
Yes, Stamp duty is payable on issue of shares certificates.
Art.16 of the Karnataka Stamp Act's Schedule:- Certificate or other document evidencing the right or title of the holder thereof, or any other person, either to any share, scrip or stock in or of any incorporated company or other body corporate or to become proprietor of share, scrip or stock in or of any such company or body. One rupee for every one thousand rupees or a part thereof of the value of the share, scrip or stock.
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