Notice on issue of shares

This query is : Resolved

NiTiN JAiN (Querist)
Follow

15 June 2012 one pvt ltd co. registered in delhi has issued 69000 shares of rs 10 each. now the co. has received a notice from revenue department for non payment of stamp duty. now what is the procedure to deposit the same & of what amount?

CS GURVINDER SINGH

CS GURVINDER SINGH (Expert)
Follow

16 June 2012 Re. 1/- per one thousand of Value,

Buy Adhesive stamps or use Frankin services of Bank

Ajay Mishra

Ajay Mishra (Expert)
Follow

16 June 2012 Hi

To,
SDM
Connaught Place (Patiala House No.18)

Sub: Payment of Consolidated Stamp Duty on allotment & issue of Share Certificate.

Respected Sir,

With due regard we would like to acknowledge you that Our Company incorporated on the date………….. having company No. ……………. and subsequently wants to allotte shares to the shareholders. Company decided to make consolidated payment of stamp Duty in respect of share Certificate issue to the Shareholders.

The Share allotment details are hereunder:

Type of Security No of Share Certificate Folio No. Distinctive No. Face Value of Share Total Amount Paid

For ………………..

Director/ Authorized Person

Annexture:

1. Share Certificate (Specimen)
2. Memorandum & Article of Association
3. Board Resolution authorizing allotment of Shares
4. Form-2
5. Share Holding Pattern
6. Power of Attorney to present the matter.

Procedure:

Stage-1 Application to SDM (Concerned Registered Office of the Company)
Stage-2 Application forwarded by SDM to Finance Secretary
Stage-3 Finance Secretary Send Note to the Governor of the state
Stage-4 After due approval Finance secretary issue an approval to SDM
Stage-5 SDM issue challan on the basis of approval
Stage-6 Amount of stamp duty deposited in bank
Stage-7 A certificate of payment of duty issued by the SDM

Upgrade to CAclubindia Pro. Subscribe Now!