Section 39 of the Indian Stamp Act, 1899 – Collector’s power to refund penalty paid under section 38, sub-section (1)

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Section 39: Collector’s power to refund penalty paid under section 38, sub-section (1)

MEMORANDUM OF ASSOCIATION OF A COMPANY- (a) If accompanied by articles of association under section 26 of the companies Act, 1 of 1956. (b) If not so accompanied- Ninety five rupees. (i) Where the nominal share capital does not exceed one lakh of rupees. Two hundred thirty eight. (ii) Where the nominal share capital exceeds one lakh of rupees. Three hundred ninety-six rupees. Exemptions: Memorandum of any association not formed for profit and registered under Section 25 of the Companies Act, 1950 Act 1 of 1956.

Source: official text of The Indian Stamp Act, 1899 as published on India Code (PDF). All sections of the Indian Stamp Act, 1899.

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