As per section 56 (4) of the Companies Act, 2013:

• Share certificates shall be delivered within a period of 2 months from the allotment, in case of allotment of shares.
• Within a period of 2 months from the date of incorporation.
• Within a period of 1 month from the date of receipt of transfer and transmission.
• Within a period of 6 months from the date of allotment in case of the allotment of debenture.
• After the share certificates have been issued to the holders, now the time has come to pay the stamp duty as per INDIAN STAMP ACT, 1899

Within 30 days of issue of share certificates, stamp duty shall be paid.(Here payment of Stamp Duty means application to be filed to Stamping Authority i.e. Revenue department of the state, for payment of Stamp duty within 30 days of issue of Share Certificates)

The superintendent has the power to put penalty, 10 times of the amount of stamp duty.

Rate of Duty for Nct of Delhi: One rupee for every one thousand, or a part thereof, of the value of the shares, scrip or stock. (Rate of Stamp Duty differs state wise).

If the matter got delayed due to any reason and an application filed is beyond 30 days then the matter will directly be called for hearing. A hearing date will be given to the Company. An opportunity of being heared shall be given to the Company by the Superintendent. The representative of the Company have to present its case by giving a valid reason of not filing it on time. The superintendent will be charging the penalty accordingly up to the maximum of 10 times of the amount of stamp duty.

It is a document issued by the company to its shareholders stating that the holder of the certificate is the owner of number of shares mentioned on the certificate.

Following documents are required:
In Case of Incorporation:

• Application having details of the allotted Shares .
• Authority Letter in the name of the person representing Company.
• Board Resolution for Issue of Share Certificates
• MOA/COI
• Share Certificates (Signed by two Directors/MD/WTD & Company Secretary (if any) otherwise two Directors & one person as authorized by Board of Directors)
• Certificate by Practicing Professional (Digitally Signed Document)/Details of the Director of the Company
• #There is no need of PAS-3 & Challan of the same. (Because at the time of incorporation it is deemed allotment of the subscriber of the company, Hence there is no requirement to file PAS-3 ) In Case of Allotment:

Application having details of the allotted Shares.

• Authority Letter in the name of the person representing Company.
• Board Resolution for Issue of Share Certificates
• MOA/COI
• Share Certificates (Signed by two Directors/MD/WTD & Company Secretary (if any) otherwise two Directors & one person as authorized by Board of Directors)
• PAS- 3 along with Challan
• List of Allotees.
• Certificate by Practicing Professional (Digitally Signed Document)/Details of the Director of the Company

In case of allotment to foreign directors:

• Extra documents to be attached:
• Foreign Inward Remittance Certificate(FIRC) (photocopy to be attached)( It is an attachment of PAS-3 )
• #copy of every attachment of PAS-3 shall be the part of documents for stamping.
• Note:- Certified Copies of all the documents.
• The article has been prepared considering the relevant Guidelines/ Circulars/ Notifications/ Provisions of the Companies Act, 2013, the rules made there under & Indian STAMP ACT, 1899. Readers are requested to cross-check the provisions before acting upon the same. The author will not be liable for any damages or penalties caused.