Stamp Duty on the Issued Shares

Stamp Duty on the Issued Shares



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Payment of stamp duty on the issued shares at Stamp Duty Division of Inland Revenue Department

Right after the incorporation of a firm, the organization should issue every shareholder the shares to which they are entitled as per Section 50 of the Companies Act. It is a must that the stamp duty payment of the issued shares be settled to the Inland Revenue within one months’ time from the issue of share. The entrepreneur can receive the receipt of payment once the respective sum is paid.

Providing notice to the Department of Registrar of Companies concerning the issue of shares

It is a necessity to file form 6: Receipt by Stamp Duty Unit for Share Issues at Registrar of Companies within twenty working days to express that the preliminary share issue has been completed together with a copy of stamp duty slip.

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