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I need a succession certificate to get my father's and mother's shares demated. Me and my sister are
01-Jun-2023 (In Property Law)
I need a succession certificate to get my father's and mother's shares demated. Me and my sister are the only two legal heirs. Since Me (married) and my sister (unmarried) are both women residing in Nagpur, Maharashtra and are Hindu. Do we need to pay any court fees and stamp duty charges for the same? Or are we exempted as per laws in Maharashtra? Incase we need to pay stamp duty would the charges for stamp duty be calculated based on the face value of the shares (physical) or market value?
Courts levy a fixed percentage of the value of the estate as a court fee for issuance of the certificate. This has to be paid in the form of judicial stamp papers of sufficient amount, after which the certificate shall be typed, duly signed and delivered. As far as for converting Physical shares into Electronic form is concerned, you need to pay the stamp duty of 0.015% upto 0.25 % of the total market value of the shares. Market Value means Price consideration mentioned in the particular instrument i.e. share certificate.
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Adv. Pankaj Bajaj
Mumbai | 500+ Answers
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