Online Payment of Stamp duty procedure:
DELHI STAMP ACT
As per Delhi Stamp act, stamp duty shall be paid on “CERTIFICATE OR OTHER DOCUMENT evidence the right or title of the holder thereof, or any other person, either to any shares, one thousand stock in or of any incorporated Co. or other body corporate or to become proprietor of shares, scrip or stock in or of any such Company or body.”
Rate of the said stamp duty in Delhi shall be “One rupee for every one thousand, or a part thereof, of the value of the shares, scrip or stock including the amount of PREMIUM”.
Penalty shall be 1 to 10 times depending upon the order being passed by department. However penalty can be lower than 1 time as decided by authority.
PROCEDURE FOR SUBMISSION OF STAMP DUTY IN DELHI:
- First Company will Allot Shares.
- Company will is issue Share Certificates within 60 days of Allotment of Shares.
PREPARE DOCUMENTS:
After issue of shares, Stamp duty shall be online paid to the exchequer of government within 30 (Thirty) days from issue of Share Certificates. Following documents shall be prepared:
- Form2/Pas-3
- Share Certificate
- List of Allotee
- Copy of Board Resolution/Shareholder Resolution
- Certificate of Incorporation
- Memorandum of Association
- Certificate of Previous Stamp duty if any
Note: – After Uploading these all document the department will take time (no time limit mention by department) to generate Challan Receipt for Payment the stamp duty.
PREPARATION OF CHALLAN:
- Challan has been issued by department in Triplicate on the basis of Duty Chart Made.
- The same Challan has to be paid at Specified Bank (List of Bank will be provide by Department) within 5-6 working days for smooth working of your file/case
DEPOSIT OF CHALLAN:
- After submission of challan, we have to deposit a copy of challan with the revenue department.
- After verification of challan (after 20 days of depositing of challan), department issue a certificate of Stamp duty paid (1 day to 100 days).
| Face value of Share Capital(A) | Premium Amount(B) | Total Value of Share Capital(C = A+B) | Stamp Duty to be paid (C*0.10%) |
| Rs. 1 Lac | 0 | Rs. 1 Lac | Rs. 100 |
| Rs. 1 Lac | Rs. 9 Lac | Rs. 10 Lac | Rs. 1,000 |
| Rs. 10 Lac | 0 | Rs. 10 Lac | Rs. 1,000 |
| Rs. 10 Lac | Rs. 90 Lac | Rs. 1 Crore | Rs. 10,000 |
| Rs. 1 Crore | 0 | Rs. 1 Crore | Rs. 10,000 |
| Rs. 1 Crore | Rs. 99 Crore | Rs. 100 Crore | Rs. 10,00,000 |
STAMP DUTY NOT PAID WITHIN 30 DAYS OF ISSUE OF CERTIFICATE
The procedure is same as procedure for submission of Stamp Duty on time(as discussed in previous point) but the only difference is that we have to pay penalty i.e. 1 to 10 times depending upon the order being passed by department.
A notice is being sent by department to the Company if it fails to pay the Stamp duty within Time Limits.
