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Can Unlisted private company shares received in gift be sold immediate
15-Mar-2023 (In Corporate Law)
Dear Sir/Madam,nMy father would gift me Unlisted private company shares.We would register a gift deed.Pay stamp duty of 0.25 per Rs.100 of Net worth,nWe will submit gift deed, share certificate and share transfer form to the companyn1)Pls confirm stamp duty to be paid on this transaction in Maharashtran2)How much time does it take for transfer of shares by gift to get recorded in ROCn3)Can I sell those shares immediately before transfer of shares by gift is recorded in ROC ???
Being the transfer of Shares are subject to the central Stamp duty, accordingly, as per the provision of Article 62 (a), Schedule I of Indian Stamp Act, 1899, the transferee is required to pay stamp duty at the rate of Rs 0.25 for every Rs 100 of the value of the share.
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Adv. Pankaj Bajaj
Mumbai | 500+ Answers
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