COMPANY LAW:
The Haryana State Government in order to curb the malpractices adopted by some of the Corporate holding their Board Meetings in Gurgaon or some other places in Haryana and executing the share certificates (i.e. instruments) over there, thereby evading the stamp duty on share certificates, and also finding the stamp duty on a lower side, has amended the Article 19 of Schedule 1A (as applicable to Haryana) of the Indian Stamp Act, 1899 (“Act”) vide notification dated 1st October 2013 and increased the stamp duty levied on the share certificates to One rupee for every one thousand or a part thereof of the value of the shares, scrip or stock, which is equivalent to the stamp duty levied on such share certificates in the National Capital Territory of Delhi.
INCOME TAX:
CBDT notifies Foreign Portfolio Investors (FPI) registered under SEBI (Foreign Portfolio Investors) Regulations, 2014, as Foreign Institutional Investors (FII) for Sec 115AD; Notification issued under clause (a) of Explanation to Sec 115 AD of Income-tax Act.
Speak Your Mind