what is the rate of share transfer stamp that are to be affixed on share transfer deed????
Is there any provision that a Board meeting is to be conducted within 2 months from the date of execution of share transfer date???
Renu Goel (Company Secretary) (207 Points)
17 June 2010what is the rate of share transfer stamp that are to be affixed on share transfer deed????
Is there any provision that a Board meeting is to be conducted within 2 months from the date of execution of share transfer date???
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 17 June 2010
Hi,
Value of share transfer stamps to be affixed on the transfer deed
Stamp duty for transfer of shares is 25 paise for every Rs. 100 or part thereof of the value of shares as per Notification No. SO 130(E), dated 28-01-2004 issued by the Ministry of Finance, Department of Revenue, New Delhi.
Time limit for issue of certificate on transfer (Section-113)
Within a period of two months in case of unlisted companies
As per section 113 every company, shall, within two months after the application for the registration of the transfer of any such shares, debentures or debenture stock, deliver, in accordance with the procedure laid down in section 53, the certificates of all shares transferred.
Hence it is required on the part of the company to register the request of share transfer within 2 month of lodgment of transfer deed and deliver the share certificate to the transferee. So it is necessary to conduct a board meeting within 2 month of lodgment of transfer deed to approve share transfer.
Revert if there is any doubt.
Best Regards
Renu Goel
(Company Secretary)
(207 Points)
Replied 17 June 2010
thanx for your reply sir...
Does it means a Board Meeting is to be held within 2 months from the date of share transfer????
.25 paise share transfer stamp duty is on the consideration or on the amount of shares???
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 17 June 2010
Entire process i.e. Holding of BM for approving transfer along with preparation and dispatch of share certificate must be done within 2 months of lodgment of transfer deed with the company to comply with section 113.
.25 paisa duty is on the consideration.
Regards
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 17 June 2010
You are always welcome !!!
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