value of share transfer stamps??????????

This query is : Resolved

Praveen (Querist)
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03 January 2009 i want to know the value of share transfer stamps that need to be affixed on the transfer deed when transferring shares in the physical form..

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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03 January 2009 0.5% of the market value of the shares on the date of execution of the transfer deed.

CS Arpita Rajpurohit

CS Arpita Rajpurohit (Expert)
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03 January 2009 The share transfer deed should be ‘duly stamped’. Presently, the stamp duty payable is @ 25 Ps per Rs 100 of consideration (and not on basis of face value of shares).

[As per Article 62 of Schedule I to Indian Stamp Act, the stamp duty payable on transfer is 75 Paise per Rs 100 or part thereof of 'value of shares'. The stamp duty has been reduced to 25 Ps per Rs 100 w.e.f. 1-3-2004, vide notification No. S.O. 130(E) dated 28-1-2004. Earlier, upto 29-2-04, it was 50 Ps per Rs 100 or part thereof, vide notification No. SO 198(E) dated 16.3.1976].

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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03 January 2009 I stand corrected. Thanks to Arpita.