According to experts, there was previously no stamp duty on off market transactions in demat mode. Mainly this involved the purchase and sale of unlisted shares but also other kinds of off market transactions like gifts of financial securities.
“The circular aims to standardize the collection of stamp duty and plug certain loopholes. Transfer of shares of unlisted entities in physical form invited a stamp duty of 0.25% but this could be circumvented by transferring the shares in a demat form. But now that’s not the case," said Gautam Nayak, Partner, CNK and Associates LLP, a Mumbai based Chartered Accountancy Firm.
Credit / For more , please click
Also , please click -
Taxation Laws in India -Unfair to Non Farmers Especially Investors