What is the rate of stamp duty on issue of share certificate and on transfer of shares in U.P?
2 Replies
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 11 July 2009
The share transfer deed should be ‘duly stamped’. Presently, in UP, 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. There is no stamp duty on transfer of shares or debentures in a depository scheme.
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 11 July 2009
In case of Share Certificate the Stamp Duty is Re. 1 for every one thousand including premium. (i.e. issue value)
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