indian stamp act 1899

Understanding the Paradigm to Locate Correct Stamp Duty on Your Instrument

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 […]...

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Guidance Note on Payment of Stamp Duty on Share Certificates in Haryana

Corporate 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 […]...

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Payment of Stamp Duty on Shares

Corporate 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 ...

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FAQs on Indian Stamp Act, 1899 Amendments & Rules

Corporate 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 ...

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FAQs on Stamp Duty on Form INC-2/ INC-7/ INC-29, MoA, AoA, & SH-7

Corporate 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...

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Extend time limit for registering property documents in Maharashtra

Corporate 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....

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Stamp duty Act Amendments & FY Year Extension Rumor

Corporate 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...

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Government proposed to amend Indian Stamp Act, 1899

Corporate 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...

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Stamp duty is applicable on purchase of Property in Public Auction

Corporate 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....

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Appeal to simplify & speedup procedure for approval u/s. 36A(3) of Bombay Public Trust Act, 1950 in respect of raising loan or deposit

Corporate 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...

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Refund Excess amount of Stamp Duty paid: MP HC

Brilliant 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....

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Non consideration of sale value approved by Charity Commissioner by Collector of Stamps in adverting value of trust property was not justified

Crystal 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...

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Validity of trust deed for stamp duty cannot be determined by DC: HC

Sri 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...

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Validity of differential Stamp duty on Instruments executed outside Maharashtra under Bombay Stamp Act, 1958

The 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...

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SC stays HC order on Levy of Stamp Duty on Advertisement Agreements

Indian 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...

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1% lesser stamp duty for property purchased by Women in Maharashtra

Order 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 ...

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Amendments in Indian Stamp Act, 1899 & Rules from 1st July 2020

Release 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...

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No Extension of FY- Notification relates to Indian Stamp Act, 1899

Notification 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...

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Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) (Second Amendment) Rules, 2020

Notification 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...

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Amendments to Indian Stamp Act, 1899 applicable from 01.04.2020

S.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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Recent Posts in "indian stamp act 1899"

Understanding the Paradigm to Locate Correct Stamp Duty on Your Instrument

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 More
Posted Under: Corporate Law |

Guidance Note on Payment of Stamp Duty on Share Certificates in Haryana

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 More
Posted Under: Corporate Law |

Extend time limit for registering property documents in Maharashtra

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 More
Posted Under: Corporate Law |

1% lesser stamp duty for property purchased by Women in Maharashtra

Order 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 31st March, 2021. Maharashtra Stamp Act ...

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Payment of Stamp Duty on Shares

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 More
Posted Under: Corporate Law |

FAQs on Indian Stamp Act, 1899 Amendments & Rules

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 More
Posted Under: Corporate Law |

FAQs on Stamp Duty on Form INC-2/ INC-7/ INC-29, MoA, AoA, & SH-7

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...

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Posted Under: Corporate Law |

Stamp duty rates for Form INC-2/ INC-7/ INC-29, MoA, AoA, and SH-7

State wise stamp duty rules for eForm INC-2/ INC-7/ INC-29, Memorandum of Association (MoA), Articles of Association (AoA), eForm SH-7 and eForm FC-1) Also Read- FAQs on Stamp Duty on Form INC-2/ INC-7/ INC-29, MoA, AoA, & SH-7 Stamp duty rules for Form INC-2/ INC-7/ INC-29, MoA, AoA, and SH-7 Name of state/ union territory […]...

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Posted Under: Corporate Law |

Indian Stamp Act Amendments – New Dimensions to securities transactions

Indian Stamp Act (ISA) amendments were made effective from 1st July 2020. The said amendments on one hand brought in rationalization in charging of duties on issue & transfer of securities for pan India transactions & on the other hand done away with the concepts of duty on securities certificates, letter of allotment, instrument of trans...

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Posted Under: Corporate Law |

Stamp Duty on Shares And Debentures

INTRODUCTION The government of India through the Finance Act, 2019 bought 360-degree change under the Indian Stamp Act, 1899(hereinafter called as Stamp Act). Though there are numerous reasons for amending Stamp Act, some of the reasons are very explicit and some of them are not. However, no one can deny the fact that Stamp Act […]...

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Posted Under: Corporate Law |

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