Private equity/venture capital

Shakshi (Querist) 26 May 2021 This query is : Resolved
What is the stamp duty payable on Share subscription agreement in Karnataka? Please mention the legal provisions.

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kavksatyanarayana (Expert) 26 May 2021
To my best, the Stamp duty is Rs.0.01% on the value of the share under Art.5( c ) of Schedule of Karnataka Stamp Act.

T. Kalaiselvan, Advocate Online

(Expert) 27 May 2021
Article 5(c) of the Schedule 1-A of the Karnataka Stamp Act mentions that the stamp duty on the agreement or memorandum of agreement if relating to the purchase or sale of shares in or of any incorporated company or other body corporate is One rupee (Rs.1/-) for every ten thousand rupees (Rs.1000/-) that is 0.1% of the value of the share at the time of its purchase or sale. The stamp-duty remains the same in the case the agreement is between or through members of the recognized stock exchange.

Dr J C Vashista (Expert) 28 May 2021
Mr. T Kaliselvan is an expert on the subject matter, follow his advise.
Otherwise, it is a state subject which can not be considered, opined and obliged by any other expert worldwide on this platform but who is not local.