Agreement With Indemnity Clause Stamp Duty

Section 25 of Schedule 1 to the Bombay Stamp Act provides that stamp duty on the transfer related to the merger of undertakings under the Companies Act is 10% of the total market value of the shares issued or allotted in exchange or otherwise and the amount of consideration paid for such a merger. the article sets a ceiling for stamp duty; 4.6 The date of issue of the stamp document must not exceed 6 months from the date of the transaction. Shareholder agreements or share underwriting agreements often have a indemnification clause and must be stamped accordingly. 2. The assignment of copyright shall be exempt from stamp duty. In addition, in some states of India, if the agreement covers an arbitration clause, the additional stamp duty must be paid. For example, under the Karnataka Stamp Act, 1957, the stamp duty imposed for the arbitration clause is 200, which must be stamped in addition to the general requirements. Section 25 of the Bombay Stamp Act states that the stamp duty on the transfer related to movable property is three per cent of the market value of the immovable property. 2. The tax payable under point (g) shall be 500 only if the tax has already been paid in accordance with Article 5(g)(a) of the Development Rights Agreement [2] Section 2 (26) of the Act: `stamp` means any sign, label or mention of an agency or person duly authorised by the Land Government and contains a stamp or stamp for the purposes of the tax levied under the said Law. Could you please use the current stamp duty in accordance with Article 20(4)(i) for mergers in Karnataka.Please also send me the notification if possible. In accordance with Section 62(a) of List 1-A of the West Bengal Stamp Act, the tax rate is 0.25% for the transfer of shares of a public limited company or other entity, with or without consideration, i.e. twenty-five Paise per one hundred rupees of the value of the share.

4.7 Any person who bears and pays stamp duty is the matter of the agreement between the parties. In the absence of such an agreement, the law provides that in the event of a transfer, the tax must be paid by a buyer and, in the case of a lease, by the tenant. In the case of obligations, release, settlement, it must be paid by the person who manufactures or pulls the instrument. In the event of an exchange, it must be paid equally by the parties and, in the event of division, by the parties in relation to their respective shares. In all other cases, it must be paid by the person performing the act. . . .