Prem Munjal (Training) (75 Points)
09 January 2013What will be the lstamp duty on 1,31,70,000 of Rs. 5 each equity shares issued pursuant to scheme of amalgamation between Maruti Suzuki India Limited, amalgamated listed entity, and Suzuki Powertrain India Limited, amalgamating unlisted entity, & both companies having registered office at New Delhi ?
Who shall be liable for such Stamp duty i.e.amalgamated entity / amalgamating entity / shareholders ?
Is there any time limit for discharging the same ?
CA Mangesh Chitale
(B. Com. A.C.A. DISA (ICAI) DIRM (ICAI))
(245 Points)
Replied 09 January 2013
Amalgamating company is supposed to pay stamp duty as amalgamating company will issue shares.
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