Company law

VINIT KUMAR JAIN (Querist) 08 November 2011 This query is : Resolved
In relation to the issue of shares other than cash. If the company is issuing Rs. 6,00,000/- shares how much stamp duty is required to be paid and what is the mode of payment. Agreement for issue of shares other than cash required. If form-2 is filed along with the copy of agreement then whether it is compulsory to file form-3.

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Dhiren Akbari (Expert) 09 November 2011
shares can be issued for consideration other than cash provided it is withn the authorised share capital of the company. so far as the stamp duty on share certificate is concerned, it is a state jurisdiction and the rate may vary from state to state. form -3 is required to be filed even if copy of agreement is filed with form-2.

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