Revenue stamp

This query is : Resolved

Karan (Querist)
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10 December 2010 What is the latest limit to attach the revenue stamp for any payment done in cash.

Is it 5000 or 10000?
Is there any amendment, if yes than effective from which date?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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10 December 2010 5000 is the limit no amendment

Karan

Karan (Querist)
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10 December 2010 In all types of cash payment vouchers?
whether it may be salary paid or paid to gov. i mean any voucher above 5000 requires revenue stamp right?

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RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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10 December 2010 PLEASE NOTED THAT REVENUE STAMP REQUIREMENT ON PAYMENT OF ABOVE RS. 5000.00, IS IT COMPULSORY TO AFFIX THE STAMP ON EITHER SALARY GIVEN TO EMPLOYEE, OR GIVEN FOR DEPOSIT THE SAME IN ANY GOVT.ACCOUNT LIKE THAT VOUCHER.

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Ajay Mishra

Ajay Mishra (Expert)
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10 December 2010 Agreed with Mr. Ramesh.......

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 December 2010 Section 2(23) of the Indian Stamp Act,1899 makes it mandatory for affixing of stamp on any receipt as defined therein above Rs. 5000.

2(23) "Receipt" includes any note, memorandum or writing-

(a) whereby any money, or any bill of exchange, cheque or promissory note is acknowledged to have been received, or
(b) whereby any other movable property is acknowledged to have been received in satisfaction of a debt, or
(c) whereby any debt or demand, or any part of a debt or demand, is acknowledged to have been satisfied or discharged, or
(d) which signifies or imports any such acknowledgment;
and whether the same is or is not signed with the name of any person "