Sheetal Goel (CA, CS) (62 Points)
27 June 2013In a private Company there was a transfer of shares in July 2012. The transfer deed was unstamped and the company affected the transfer of shares in the name of the transferee. the company has only two shareholders.
What are the consequences? Can this transfer deed be stamped/ franked now, so that the transfer be valid from July 2012 itself? What is the period of Validity of transfer deed of a private company?
Thanks
Sheetal Goel
shikha tiwari
(MANAGEMENT TRAINEE)
(379 Points)
Replied 27 June 2013
at first check the validity of transfer deed ,(i.e whether the vality period of transfer deed has expired or not )and if its still valid than stamp of requisite value can be franked on the deed .
shikha tiwari
(MANAGEMENT TRAINEE)
(379 Points)
Replied 01 July 2013
given reply is on the asked query itself i.e whether revenue stamp could be franked on the transfer instrument or not , in order to make this transfer effective.
accordingly if the transfer deed is well within the validity period than stamp could be affixed on it in order to make this tranfer of share effective.
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