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    Relaxation in stamp duty

    Posted By : Abhishek Mishra / Published on : 08-Apr-2023 04:17 AM / View : 253 / Comment : 3

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    Hello All,

    Is there is any relaxation in stamp duty payment on transfer of shares of Section 8 Company?
    Read more on : duty stamp relaxation

    • Hi Abhishek 

      The Indian Stamp Act, 1899 governs the imposition of stamp duty on issuing share certificates. No state has provided a special rate of stamp duty exemption for stamp duty payable on the issuance of share certificates by a Section 8 company. Similarly,  stamp duty payable on the transfer of shares has not been exempted for Section 8 companies. However, as with other companies, no stamp duty is payable on transfers of section 8 company shares made in demat mode.

      Hope you finds this useful.

      08-04-2023 / 04:27:51 AM
    • Right Ms. Juhee, In India, stamp duty is a state subject, and the stamp duty rates and exemptions vary from state to state. Therefore, the answer to your question may depend on the state where the Section 8 Company is located.

      However, in general, the stamp duty rates for transfer of shares are the same for all types of companies, including Section 8 companies. The stamp duty payable on transfer of shares is usually a percentage of the consideration paid or the fair market value of the shares, whichever is higher.

      Some states may offer exemptions or reduced rates of stamp duty for certain categories of transfer, such as transfer of shares of sick industries, transfer of shares in cases of amalgamation or merger, or transfer of shares in a family settlement. However, these exemptions or reductions may not be specific to Section 8 companies.

      Therefore, it is advisable to check the stamp duty rates and exemptions applicable in the specific state where the Section 8 company is located, and to consult with a qualified professional such as a lawyer or a chartered accountant for specific advice on stamp duty payment for transfer of shares of the company.

      12-04-2023 / 09:23:35 AM
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