stamps to be affixed on share certificate

This query is : Resolved

SWAPNIL B PATOLE (Querist)
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23 December 2010 My Co. is Public ltd. Maharashtra. Face value of Share rs. 10 & Premium Rs. 10. The Stamp affix to share certificates are of Rs. 10/- Pls. tell me is it excess stamp duty paid??
I think Stamp to be affix should be of Rs. 5/-

Ajay Mishra

Ajay Mishra (Expert)
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23 December 2010 If the stamp duty is Rs. 10 then you will pay the same.

For transfer of shares:

25 paise for every Rs. 100 or
part thereof (approx. 0.25%)

Rasesh

Rasesh (Expert)
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23 December 2010 Please refer the rates of stamp duty on share certificates as per the Bombay Stamp Act.

to the best of my knowledge it is Re. 1 for every Rs. 100/- of market value. hence if the MV is Rs. 20/- the stamp duty is Re. 0.20

If many certificates are to be issued, the best way is to pay consolidated stamp duty.

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