Transfer of Share

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

22 December 2010 My Company's Registered office is in Delhi and the company wants to conduct its Board Meeting in Haryana as the director of the Company presume that rate of Stamp Duty in Haryana on transfer of Shares is Nil. So Kindly help me out whether such action is correct or not.

udit sharma

udit sharma (Expert)
Follow

22 December 2010 Hi...

There is no statutory restriction imposed by the Companies Act, 1956 as to holding of a Board Meeting. BM can be held at a place other than the registered office of the Company. For the purpose of reducing the stamp duty to be paid on Share Certificates, u can convene the BM in the state of Haryana but it is definitely going to raise some suspicion as to why the BM has not been held in Delhi or has been specially held in the state of Haryana if no BM has been held in Haryana till date.

God Bless

Udit Sharma

Querist : Anonymous

Querist : Anonymous (Querist)

22 December 2010 thank u sir, so is it confirm that rate of stamp duty on transfer of share in haryana is nil not .25%of consideration as in Delhi.

Upgrade to CAclubindia Pro. Subscribe Now!

Querist : Anonymous

Querist : Anonymous (Querist)

22 December 2010 thank u sir, so is it confirm that rate of stamp duty on transfer of share in haryana is nil not .25%of consideration as in Delhi.