At the time of issuance of shares of a Private Limited co, instead of getting them franked, revenue stamp was affixed behind the certificates. Will they be treated as valid share certificates? If not, what is the correct course of action now?
2 Replies
Sahil Jain (FAFD, DISA, CA)
(Practicing Chartered Accountant )
(2476 Points)
Replied 26 March 2019
revenue stamp are legally not valid, but there are many who put the same on share certificate.
correct measure is to pay the stamp duty amount online on gras website
correct measure is to pay the stamp duty amount online on gras website
Lila
(Job)
(511 Points)
Replied 26 March 2019
Now if they pay stamp duty, wouldn't it look like delay in payment of stamp duty and attract penalty? What should be written as date of issuance of shares?
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