Hi,
Whether issue of shares on account of remat application attracts any kind of stamp duty?
Regards
Chandrashekhar Laddha
+91 99252 37250
3 Replies
udit sharma
(Company Secretary)
(2303 Points)
Replied 21 December 2010
No stamp duty is payable on rematerialisation of shares.
ankit jain
(CS trainee)
(152 Points)
Replied 22 December 2010
Agree with the learned member. Only in case of transfer of shares in physical form attracts stamp duty otherwise not.
Pls correct me if i am wrong.
Thnks in advance
K Mohamed Ibrahim
(Company Secretary)
(104 Points)
Replied 23 December 2010
It seems the Shares are converting from Demat to Remat. ie. electronic to Physical mode. So you will issue Remat Share Certificate. There is no question of issue of Shares.
No Stamp duty for this. only 1 Rupee revenue stamp to be affixed in Share Certificate.
For converting Demat to Remat, the Depository will charge huge amount, if the no of Shares are more.
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