30 September 2008
It is 50 Paise for every hundred rupees or part thereof of the value of share. [It is 75 Ps as per Article 62 of Schedule I to Stamp Act, reduced to 50 Ps per Rs 100 vide notification No. SO 198(E) dated 16.3.1976]. As per section 21, the duty has to be calculated on the basis of market price prevalent on date of instrument and not on the face value of shares.
01 October 2008
I would like to throw more light on above query as under: 1. The above query is related payment of stampduty for shares issued at the time incorporation of the company.
2. Whether form 10 to be filed at the time of initital subscription of shares.
CAclubindia
