Stamp duty for gift of shares

Dear All,

One of our directors have transferred some shares to the other director as gift and without any consideration. My question is on which amount the stamp duty payable on transfer of shares shall be calculated. whether it be calculated on the face value of the shares transferred or on the market value of the shares so transferred.

Thanks & Regards

Shreya Shah

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SATISH KUMAR (COMPANY SECRETARY) 04 June 2008

If the company is listed stamp duty has to paid on the market rate. Other wise stamp duty has to paid on face falue or last trnsaction amount i.e. consideration mentioned in the last transfer.