Transfers

What care should I take while buying or selling securities?

One should Purchase or sell securities only through authorized stockbrokers duly registered with Stock Exchanges. Ensure that you receive a Contract Note for all transactions. The brokers stamp with the SEBI registration/Code number should be affixed on the reverse of the transfer deed(s).

For securities held in electronic form, please contact your depository participant.

What amount of stamp duty should I affix on the transfer deed?

For Shares, stamp duty @ 0.25% of the market value or the consideration amount (whichever is higher) should be affixed on the transfer deed. The rate per share can be taken from any newspaper. The date for which the rate is picked up must be the same as the execution date mentioned on the transfer deed.

Special note: With effect from 1 July 2002, for transactions in physical form, the Government of Maharashtra has banned the sale and use of share transfer stamps. The Government has started putting their stamp by using franking machine at the Stamp Office. For transactions executed in Maharashtra, instead of affixing share transfer Stamps, stamp duty @ 0.25% of the market value or the consideration amount (whichever is higher) should be franked on the transfer deed. In Mumbai, deeds may be franked at BOI Shareholding Limited, Stock Exchange Building, 1st Floor, Mumbai 400001.

Electronic transactions do not attract any stamp duty, however each Depository Participant may levy a transaction fee. Please confirm the rate with your depository participant beforehand.

Why should I keep securities in joint names?

It is advisable to register securities in joint names in order to facilitate Succession.

If I wish to add the name of my spouse, children or any other person, what procedure should I follow?

Addition of the name of a joint holder, even a family member, is considered a "Transfer" and attracts stamp duty. A regular transfer deed would be required to be executed. Blank transfer deeds would be available with your local stockbroker / stock exchange.

For securities held in electronic form, please contact your depository participant.

Can I avail the nomination facility?

Yes. For securities held in physical form, you may nominate a person by completing Form 2B and registering the same with Link Intime India Private Limited (LIIPL).

For securities held in electronic form, please contact your depository participant.

Important points to note:

  • Always include your complete address along with pin code while filling in the transfer deed / opening an account with a depository participant.

  • Keep photocopies of certificates, transfer deeds and other documents sent by post to LIIPL. In case of a loss in transit, they come handy.

  • A transfer deed for shares is valid for only one year from the date of presentation or the last book closure of the company, whichever is later. For debentures the transfer deed is valid for an indefinite period

Tara Jewels Limited (TARAJEWEL.NS)


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