Ruchie Khanna (Company Secretary) (123 Points)
04 March 2010Dear Professionals,
A public unlisted company has changed its name and regiatered office address. Now it propses to make these changes on the existing share certificates and has called for share certificates from its members.
My query is will stamp duty be payable on the new share certficates issued in lieu of old ones and is a board resolution sufficeint to to the new certificates.
Thanks & Reagrds,
Ruchie Khanna
CS Snehal
(Compliance Manager)
(346 Points)
Replied 04 March 2010
Dear Ruchie,
There is no need to pay stamp duty. Or else it will be doubly stamped. On the share certificate you can mention, the new share certificate no_______ is issued in lieu of old certificate no______ consequent to change of name of the company and the certificate thereof and stamp duty of Rs.____ paid on _______.
Eg: ABC Limited
(incorporated under the companies act, 1956)
Formerly: xyz ltd
Registered office:...........
Hope this clarifies.
CAclubindia
