Stamp duty on share certificate

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 May 2012 Hello Friends..

If Company not issue share certificate on the date of Incorporation and within prescribed time limit and not paid stamp duty as per applicable law and after two years if company wants to issue share certificate than how the stamp duty should be payable and what is penalty should be charge for let payment of penalty. The company registered under ROC Gujarat.

Ajay Mishra

Ajay Mishra (Expert)
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10 June 2012 Hi

Section 113 of the Companies Act, 1956 says that share certificate should be issued with in 3 month from the date of allotment.

So when u issue share certificate it should be properly stamped as per your state stamp duty.

The penalty will be maximum up to 10 time of stamp duty payable.

Regards