Stamp act

VIJAY K. TEOTIA (Querist) 29 January 2011 This query is : Resolved
whether stamp duty is payable on scheme of amalgamation/demerger duly approved by high court.

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M V Gupta (Expert) 30 January 2011
In Maharashtra, stamp duty is payable @ 10% of the aggregate of market value of the shares issued or allotted in exchange or otherwise and the amount of the considedration paid for such amalgamation, subject to limits mentioned in the procviso to clause (da) of Article 25 of the Bombay Stamp Act.

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