Procedure for payment of Stamp Duty on Issuance of Share Certificate

The stamp duty on issue of share certificate will be paid through a detailed procedure prescribed. First of all, the application needs to be filed at the Website of Stock Holding Corporation of India Limited (“SHCIL”), i.e.

Subsequently, the application will be pending scrutiny of the Department of Revenue (“DoR”), Government of India. If there was any delay in filing of the stamp duty then the hearing will be conducted and the applicant or their authorized representative is required to attend in person for specifying the reason for delay and also for following further directions;
If no delay was occasioned during filing the application, then it will be scrutinized. Any defect found will be requested to be cured, on website itself;
Once cured, the application will be approved, and the challan will be generated. The payment can be made immediately on generation of challan;
On payment, the acknowledgment receipt will be generated, that needs to be personally submitted to the SHCIL;
From SHCIL, the stamp paper needs to be purchased, the scanned copy of which needs to be uploaded on SHCIL website and the original is required to be submitted personally to the DoR.
Subsequently, the certificate will be issue by DoR. The certificate of Stamp Duty payment.

Any queries pertaining to payment of stamp duty can be emailed to sdmhq4divcomm.delhi.nic.in

Comments

Unethical practices in all forms of Business accounting

Accounting is known as the language of Business organisation and mainly concerned with the recording and maintaining of the financial data and communicating the information or data to the users. Though it is not an easy process as it involves various set of steps between them. Like it starts from 1].Identifying the transaction 2]. measuring and analysing the transactions which involves measuring the transactions in terms of money because as per the money measurement concept only those transactions, which can be measured in terms of money/monetary terms, can be recorded in the books of accounts. 3].Recording the identified and measured transactions in the journal. Journal is a book of primary recording, mainly concerned with writing the transactions for the first time in the books. 4].Posting the information into ledger accounts which is considered as a book of secondary entries. 5].Summarising the information by making trial balance and preparing the income(profit and loss acc...

Decree obtained by Fraud

Decree obtained by fraud will be nullity if decreed to be nullified by the court of competent Jurisdiction *In the case of A.V. Papayya Sastry & Ors vs Government Of A.P. & Ors on 7 March, 2007 It is thus settled proposition of law that a judgment, decree or order obtained by playing fraud on the Court, Tribunal or Authority is a nullity and non-est in the eye of law. Such a judgment, decree or order by the first Court or by the final Court has to be treated as nullity by every Court, superior or inferior. It can be challenged in any Court, at any time, in appeal, revision, writ or even in collateral proceedings. *In S.P. Chengalvaraya Naidu (dead) by LRs. V. Jagannath (dead) by LRs. & Ors. (1994) 1 SCC 1 : JT 1994 (6) SC 331, this Court had an occasion to consider the doctrine of fraud and the effect thereof on the judgment obtained by a party. In that case, one A by a registered deed, relinquished all his rights in the suit property...

Procedure for Non-Compliance in holding Board Meetings

Under the Companies Act, 2013, no punishment is prescribed for non-compliance with Section 173(1) in holding at least four Board Meetings in a year, in such a manner that not more than 120 days shall intervene between two consecutive meetings of the Board. Since, no express provision has been laid down, to be followed in case of such failure, the inclusive and residuary provision of Section 450, Companies Act, 2013 shall be deem to be applicable. Section 450 clearly states that: “ In case of any default or failure for which no express provision is stated elsewhere in the Act, the company, or every officer in default shall be punishable with fine which may extend to ten thousand rupees, and where a contravention is a continuing one, with a further fine which may extend to one thousand rupees for every day after the first during which the contravention continues”. The detailed procedure for the payment of such punishment, levied under Section 441, is channelized through the...

LEGAL TRAIN

Search This Blog