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STAMP DUTY ON ISSUE OF SHARE CERTIFICATES

STAMP DUTY ON ISSUE OF SHARE CERTIFICATES BACKROUND: As per Section 3 of Indian Stamps Act 1899, Every Share Certificate must bear the necessary stamp duty as per the Stamp Act of the respective State/ Union Territory from which Certificate is issued. The rates of stamp duty can be obtained with reference to relevant article of given State Act. According to Companies Act, 2013,- “Every person whose name is entered as a member in the register of members shall be entitled to receive share certificate within two months after allotment (or within such other period as the conditions of issue shall provide).” According to Indian Stamp Act, 1899, the Company shall pay the stamp duty within thirty days after the Issue of Share Certificate. §   The Share certificate must bear stamp duty as per State Stamp act. §   Stamp duty is payable even if security is issued in dematerialized form. §   Stamp duty is payable on issue price and not on the value of security. §  

SHIFTING OF REGISTERED OFFICE FROM ONE STATE TO OTHER

SHIFTING OF REGISTERED OFFICE FROM ONE STATE TO OTHER Meaning of Registered Office: A registered office is the official address of a company to which all official letters, notices and reminders will be sent by any person, any government or non government or regulatory body. In terms of Section 7 of the Companies Act, 2013 (the “Act”), all registered companies are legally required to have a registered office address in India from the date of commencement of business orwithin fifteen days (As per Companies Amendment Act, 2017 period   of 15 days shall be substituted with 30 days) from the date of incorporation whichever is earlier However, under the incorporation process effective as on date, the proposed company is required to intimate the address of its proposed registered office   the time of incorporation itself. Usually a registered office is situated where most of the stakeholders reside. The only reason being is for their convenience. However sometimes it hap