stamp duty

Provident Fund (PF) & Voluntary Provident Fund (VPF: PF is automatically deducted from your salary. Both you and your employer contribute to it. While employer’s contribution is exempt from tax, your contribution (i.e., employee’s contribution) is counted towards section 80C investments. You also have the option to contribute additional amounts through voluntary contributions (VPF). Current rate of interest is 8.5% per annum (p.a.) and is tax-free. Full Article

The government may impose a stamp duty of Rs 300 per crore (0.003%) on transactions in commodities, stocks and other derivatives, with the finance ministry moving a proposal to Cabinet for taking the final call, sources said. Despite strong opposition from the Ministry of Consumer Affairs (MCA), the finance ministry has placed the proposal before Cabinet, they said. Full Article

The centre is likely to come out with a uniform and market-friendly stamp duty structure for transactions in the capital and commodities markets within two weeks, a senior finance ministry official said. Department of Economic Affairs and Department of Revenue are in consultation to evolve a market friendly stamp duty structure, a senior ministry official said. Full Article

S.E. Investment Limited (the Petitioner) was incorporated with an authorized share capital of INR 2 million which was gradually increased to INR 85 million.The Petitioner had paid stamp duty on the increase in the authorized share capital from INR 2 million to INR 85 million.The Petitioner further increased its authorized shares capital from INR 85 million to INR 1250 million and filed Form No. 5 with Registrar of Companies (RoC). The ROC insisted on payment of Stamp dut.. Full Article

(i) It is evident that EVERY INSTRUMENT shall be chargeable with duty, which is EXECUTED in India. (ii) The terms & conditions on “Airline ticket” or “Courier consignment receipt” etc are accepted orally by the buyer, rather there is IMPLIED ACCEPTANCE.iii) Therefore, “Airline ticket” or “Courier consignment receipt” etc are not EXECUTED INSTRUMENTS by both the parties, hence not chargeable with duty. Full Article

The Delhi High Court has held that a company is not required to pay the stamp duty on the increased amount of its authorised share capital. A bench headed by Justice S Muralidhar said this while allowing the plea of S E Investments Ltd, which challenged the direction of the Registrar of Companies (ROC) seeking stamp duty on increased amount in authorised share capital. Full Article

All stakeholders are hereby informed that the provisions regarding stamp duty payment on Form No. 1, Memorandum of Association, Articles of Association, Form No. 5 and Form No. 44 electronically, at the time of their e-filing through MCA portal (www.mca.gov.in) ,in addition to the already existing list of States and Union Territories published on the MCA portal,will also be mandatory for the State of Jammu and Kashmir ,with effect from 1st May,2011. Full Article

The Delhi High Court has inter alia held in the case of Delhi Towers Ltd. V. G.N.C.T. of Delhi [2010] 159 Comp Cas 129 (Del) that an order passed by the Court in terms of the provisions of Section 391 read with Section 394 of the Companies Act 1956 a Full Article