Stamping of Share Certificates in the State of Uttar Pradesh

STAMPING OF SHARE CERTIFICATE IN THE STATE OF UTTAR PARDESH

The Indian Stamp Act of 1899 and the Uttar Pradesh Stamp Act of 2008 both govern the stamp duty on share certificates in Uttar Pradesh. Stamp duty on share certificates is now set at 0.1% of the whole share value (face value plus premium).

In Uttar Pradesh, the following steps must be followed to stamping of shares certificates:

1. Take the share certificate(s) you need from the business.
2. Based on the entire share value, determine the stamp duty that must be paid.
3. Purchase from an authorised vendor the necessary stamp paper(s) of the relevant value.
4. Create an affidavit detailing the shares’ specifics and the stamp duty that has been paid.
5. Put the stamp paper(s) on the share certificate(s), then mark the document as “stamp duty paid” or “stamped” using an adhesive label.
6. The affidavit must be signed and notarized.
7. Within 30 days of paying the stamp duty, submit the stamped share certificate(s) and the affidavit to the relevant Registrar of Companies.

It is significant to note that, in accordance with the terms of the Stamp Act, failing to pay the required stamp duty on share certificates may result in penalties and fines.