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Is there any Stamp Duty Payable on Sub- Division of Shares? e form SH7 filed is held up for Non Payment of Stamp Duty/ Please clarify.

Fund raising

Posted By: V. maslekar 8 year(s) ago

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    Mahesh Shenoy

No stamp duty on subdivision of shares.But after the recent changes in the MCA portal while uploading the form stamp duty challans are getting generated and it is showing stamp duty is not applicable for this challan.

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    VISWANATHAN ARUNACHALAM

WHEN THE SHARES ARE SUB DIVIDED/SPILTTED MM THEN, AUTOMATICALLY ITS ORIGINAL SHARE APPLICATION &ALLOTMENT "S NATURE AND ITS STRUCTURE ,,,HAS BEEN CHANGED AUTOMATICALLY., THEN THE SUB-DIVIDED PORTION ,,,,IS ATTRACTED FOR REGISTRATION IN THE COMPANY"S SHARE LEDGER AND THE BOOKS OF ACCOUNTS,,, AS WELL AS THE FOLIO AND THE QUANTITY OF NEW SHARES,, AND DISTINCTIVE NUMBERS,,HENCE IT WILL ATTRACT STAMP DUTY, AS PER STATE GOVERNMENT PROCEDURE. IT WILL DIFFER FORM ONE STATE TO ANOTHER STATE, AS FAR AS TAMILNADU IS CONCERNED THERE IS NO STAMP DUTY FOR SPLITTED SHARES., BUT IN KARNATAKA AND MAHARASTRA ,,,IT IS APPLICABLE PLEASE NOTE THAT, • Record of renewed and/SPLITTED OR duplicate shares certificates shall be maintained in form SH-2. • The register shall be kept at registered office or where register of member is kept in proper custody. • All entries made in register shall be authenticated by Company Secretary or authorized person.Case:

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Expert    Ankit Singhi

no stamp duty needs to be paid

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