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Corporate Law - As per the general understanding of ours on the stamp act ‘it’s a state matter and every state will prescribe its rules and regulation to govern the same‘ for every instrument we have to look for the particular Stamp Act of the particular state. Through this article we are trying to give you a broad […]...
Read MoreCorporate Law - 1. TIME PERIOD FOR PAYMENT OF STAMP DUTY ON SHARE CERTIFICATES: Pursuant to Section 56 of the Companies Act, 2013, Share Certificates must be delivered within a period of 2 months in case of subscribers to memorandum and allotment of securities and within a period of 1 month from the date of receipt of instrument […]...
Read MoreCorporate Law - A share certificate is a certificate given to the shareholder of the company in the form SH-1. Share certificate being an instrument requires stamping and Stamp duty on share certificate is a state-related matter where delay in payment of stamp duty appeals penalty. Firstly, Stamp duty on share certificate has to be paid at the time of ...
Read MoreCorporate Law - Frequently Asked Questions (FAQs) on Indian Stamp Act, 1899 Amendments and Rules made thereunder Q.1 Why amendments in the Indian Stamp Act, 1899 have been made? Answer: The amendments have been carried out with respect to securities market transactions. The present system of collection of stamp duty on securities market transactions has ...
Read MoreCorporate Law - Q.1 Please specify the services for which Stamp Duty can be paid through MCA21 system? Ans. Stamp Duty applicable on filing of e-form SPICe (including MOA & AOA), SH-7 and FC-1 shall be electronically paid through MCA21 system. A person applying for certified true copy is also required to pay stamp duty through MCA21 portal. Q.2 [&he...
Read MoreCorporate Law - Yourself was kind enough in giving concessions up to 30.04.2021, for registration of docs, on which stamp duty is paid on or before 31.12.2020. But, due to sudden declaration of lockdown and restriction on movements, many people are not able to submit docs for registration....
Read MoreCorporate Law - Government broadens pertinence of stamp duty by 3 months from 1st April 2020 to 1st July 2020 The administration has not broadened the current 2019-20 financial year and it will end as planned on March 31, the finance minister said on 30th March 2020. Press Trust of India incorrectly revealed that the new financial year will begin fro...
Read MoreCorporate Law - The Department of Revenue, Ministry of Finance, has released the draft Amendment Bill (“Bill”) containing the proposed amendments in the Indian Stamp Act, 1899 (“Act”). Changes are proposed in numerous provisions of the century old enactment. The Bill has been sent to all the State Governments for obtaining their views and the sam...
Read MoreCorporate Law - The Madras High Court has held that an instrument, whether a certificate of sale or sale deed, issued in a public auction of properties, was chargeable with stamp duty under Article 18 read with Article 23 of Schedule I to the Indian Stamp Act, 1899....
Read MoreCorporate Law - Thus, for the benefit of all the Public Charitable and Religious Trusts, Trustee & all such Trusts should jointly make a petition before Law Minister, Law and Judiciary Department Sachivalaya, Maharashtra to amend this and other similar provisions in such a way that the approval should be granted/rejected within 3/4 months on the lines of...
Read MoreBrilliant Foundation Vs State of Madhya Pradesh and others (Madhya Pradesh High Court) - In the present case, respondent rejected the refund of excess amount of stamp duty paid on the ground that the said provision does not apply to the case of the petitioner/company as ad-valorem duty was paid at 1% and not at 5% of the market value....
Read MoreCrystal Construction Company Vs Additional Controller of Stamps (Bombay High Court) - Collector of Stamps committed a manifest error in not at all adverting to the fact that the Charity Commissioner had determined the value of the trust property by following requisite process to ensure the best value, and determining the market value of the trust property on the sole premise that the...
Read MoreSri B R Jagadhish Vs District Registrar & Deputy Commissioner for Stamps (Karnataka High Court) - Deputy Commissioner for Stamps (DC) erroneously directed assessee to pay stamp duty under Article 28(a) of the Stamp Act without properly examining the recitals of the document where the relationship of the donor and the donee was clearly mentioned and without looking into the provisions of Sections...
Read MoreThe Indian Hume Pipe Co. Ltd. Vs. State of Maharashtra (Bombay High Court) - The Indian Hume Pipe Co. Ltd. Vs. State of Maharashtra (Bombay High Court) The bench noted that, in the present case, the deed is used in the State of Maharashtra for registering a charge by lodging a verified copy of the deed in the office of the Registrar of Companies in accordance with sections...
Read MoreIndian broadcasting foundation vs state of maharashtra and ORS (Supreme Court of India) - Argument that it affects the freedom of press and freedom of speech and expression as enshrined under Article 19(1) (a) of the Constitution of India, is mercurial proponement because levy of stamp duty has nothing to do with the concepts that have been highlighted by the learned counsel for the peti...
Read MoreOrder No.Mudrank-2021/110R.12/CR.107/M-1 (Policy) - (31/03/2021) - Government of Maharashtra reduces the stamp duty by 1% on Agreement to Sell / Conveyance of residential property executed in favour of woman/women purchasers, with effect from 01.04.2021. ORDER Revenue & Forest Department, Madam Kama Marg, Hutatma Rajguru Chowk, Mantralaya, Mumbai-32, Dated the ...
Read MoreRelease ID: 1635399 - (30/06/2020) - Implementation of Amendments in the Indian Stamp Act, 1899 and Rules made from 1st July, 2020 for Rationalized Collection Mechanism of Stamp Duty across India with respect to Securities Market Instruments...
Read MoreNotification No. S.O. 1226(E). - (30/03/2020) - Recently a message is circulating on Social Media which claims that Financial Year 2019-20 ending on 31.03.2020 is been extended to end on 30.06.2020. With this message a Government notification issued by Ministry of Finance is also been circulated. Here we would like to clarify that this notificati...
Read MoreNotification No. G.S.R. 226(E) - (30/03/2020) - Today Government notifies Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) (Second Amendment) Rules, 2020 which further amended further amend the Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositor...
Read MoreS.O. 115(E), S.O. 116(E), S.O. 117(E) - (08/01/2020) - Central Government appoints 01.04.2020 instead of 9 day of January, 2020, as the date on which the provisions of Part I of Chapter IV related to Amendments to Indian Stamp Act, 1899 which were notified by Finance Act, 2019 (7 of 2019). MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Del...
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Order No.Mudrank-2021/110R.12/CR.107/M-1 (Policy) - 31/03/2021
