Stamp Duty on transfer of Unlisted Shares (applicable from 1st July)

The amendment on uniform stamp duty has become effective from July 1, stock exchanges will collect stamp duty on trading stocks and commodities on exchanges, while depositories will collect on off-market (unlisted) transactions, and deposit the proceeds with the central government, which will then be divided among states. While the earlier rules gave advantage to some states as they offered lower rates for companies to get incorporated, the new rules will bring in parity among all states.

Coming specifically to transfer of unlisted shares, they were earlier exempt but require payment of stamp duty from 1st July.

What is the rate of Stamp Duty?

The stamp duty rate for transfer of security other than debenture on delivery basis has been notified at 0.015% of the total consideration value.

How can one pay the stamp duty?

Stamp duty needs to be paid at the time of sale and needs to paid by the seller of the securities. The link for making the calculating and making the payment is- https://www.nsdl.co.in/stampduty_calculator.php. Stamp duty can also be paid in advance and can be adjusted later against the amount paid in advance.

Sandip Ginodia , CEO

ALTIUS INVESTECH PVT LTD

We deal in over 60 unlisted companies with 15 years of experience .

For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .

Email : ginodiasandip1@gmail.com

Comments

Reliance's JioMart is averaging half a million orders per day; WhatsApp driving growth

JioMart , Reliance's online-to-offline commerce platform that launched in May , has scaled up rapidly, riding on the pandemic-fuelled digital acceleration. The service, which went live in 200 cities across India, is currently processing an average of 500,000 orders per day. " We can go even higher on peak days", Jio Platforms CEO Kiran Thomas revealed at the Facebook for Fuel India 2020 event. He said, "JioMart is empowering millions of kiranas and small merchants through the simple and secure platform of WhatsApp, and linking them to Reliance Retail's pan-India supply chain. We expect to grow manifold in future, and are optimistic about enabling new cohorts of users and making it easier for them to shop for daily essentials." "Customers are transacting seamlessly on JioMart and the conversational nature of the service enabled by WhatsApp has made people adapt to it intuitively," he added. Reliance also stated that it will continue t

Stock broker SMC Global files for IPO

F inancial services company SMC Global Securities has filed draft red herring prospectus with SEBI for public issue of 1,58,67,380 equity shares of face value of Rs 2 each. The issue comprises a fresh issue of 79,33,690 equity shares by the company and an offer for sale of 79,33,690 shares by Millennium India Acquisition Company Inc. As of September 30, 2012, "We service our broking clients through a network of 43 branches and 2,521 registered sub-brokers and authorized persons spread in more than 500 cities and towns. We have also established an office in Dubai for brokerage and trading activities in that region," the company said. SMC has reported a loss of Rs 0.42 crore and total revenues of Rs 292.24 crore in the year ended March 31, 2012. "The proceeds of the fresh issue shall be utilised for margin maintenance with stock exchanges; part repayment of term loan; investments into subsidiary, SMC Comtrade; and general corporate purposes," according to p

Zomato, Swiggy score 1/10 on working conditions for their workers – ET Retail

Some of India's biggest startups have ranked near the bottom when it comes to working conditions for their gig workers , according to a report released Wednesday. While Swiggy , Zomato and Uber India scored 1/10, Urban Company and Flipkart’s logistics arm EKart scored the highest 8/10 and 7/10, respectively, ‘ Fairwork India Ratings 2020: Labour Standards in the Platform Economy’ showed . The report assessed the companies on five principles: fair play, fair conditions, fair contracts, fair management, and fair representation. Deepinder Goyal, chief executive officer of Zomato Media Pvt. Ltd., acknowledged the ratings on Twitter. “Zomato ranked at the bottom of 2020 Fairwork India scores. We knew we had things to work on, but we didn’t know that there is so much room for improvement.” The company takes full responsibility and “will leave no stone unturned to perform better in the rankings next year,” he added. Zomato received a 4/10 in last year's report. According t

Abhishek Securities

Search This Blog