Affixation of stamp

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 May 2016 Dear sir,
Pls let me know weather stamp will be
Affix on receipt or payment or both if
Amount exceed 5000/-

Regard
Yogesh sinha

Amol S Joglekar

Amol S Joglekar (Expert)
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10 May 2016 Revenue stamp is to be affixed on the receipt voucher.

Querist : Anonymous

Querist : Anonymous (Querist)

10 May 2016 Sir... i uaually paid salary to emplyee
Pls let me know will i have affixed Rs. 1
Revenue stamp on salary voucher or not
If amount exceed 5000/-

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CA SUNIL K GARG

CA SUNIL K GARG (Expert)
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10 May 2016 Usage of the revenue stamp and the act of affixing relevant party's signature makes the transaction provable in a court of law. It is a type of a premium paid to the Government for securing the evidentiary value of the transaction in the eyes of law. It is applicable on all cash payment vouchers exceeding Rs. 5000/- included salary payment.

Querist : Anonymous

Querist : Anonymous (Querist)

10 May 2016 Sir... but as per the rule stamp should be
Affixed on receipt voucher however in case
Of salary we are paying salary not receiving
Then how it is applicable on salary payment
Pls explain...

Amol S Joglekar

Amol S Joglekar (Expert)
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10 May 2016 The normal custom is that the organisations do possess what is called as SALARY register. The revenue stamp is affixed in the said register against each employee drawing more than 5000 gross salary.

Querist : Anonymous

Querist : Anonymous (Querist)

10 May 2016 Sir you mean to say revenue stamp is to
Be affixed even on salary voucher if amount
Exceed 5000/-
Is this correct.....

Amol S Joglekar

Amol S Joglekar (Expert)
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11 May 2016 yes. Why do you feel that the same need not be affixed? Can you please elaborate?

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Querist : Anonymous

Querist : Anonymous (Querist)

11 May 2016 Because in your first reply you have mention that revenue stamp to be
affixed on receipt voucher...

But pls let me know if i paid salary exceed
5000 but on salary voucher i have not
affixed any stamp then as per the IT
what may be consequences....

Pls revert..

Amol S Joglekar

Amol S Joglekar (Expert)
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11 May 2016 Dont try to explore the event that has not occurred. ok? Just buy revenue stamps and affix it now. Dont worry

Querist : Anonymous

Querist : Anonymous (Querist)

12 May 2016 Sir... pls let me know if i have not
Affixed the revenue stamp on salary
Voucher the what may be problem
As per IT

Amol S Joglekar

Amol S Joglekar (Expert)
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12 May 2016 There is no any MODEL answer to your question, because it is NOT mathematics. The disallowance is done taking into account various factors as to the authenticity of the transaction. It could be...nothing will happen TO full disallowance with penalty...........Note it is the judgemental call. Ok?

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Querist : Anonymous

Querist : Anonymous (Querist)

12 May 2016 You mean IT may disallowed the transaction
if No revenue stamp is affixed

Amol S Joglekar

Amol S Joglekar (Expert)
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12 May 2016 yes. It may take any shape as explained earlier, depending upon the situation.

Querist : Anonymous

Querist : Anonymous (Querist)

13 May 2016 Sir can you please share any disput case
between IT and assessee over Non affixed
the revenue stamp,

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Amol S Joglekar

Amol S Joglekar (Expert)
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13 May 2016 Assessing Officer has every right to disown / disbelieve the salary vouchers which are prima facie NON stamped. Normally in such cases, the Assessing Officer calls upon the person to whom the salary is paid without affixing revenue stamp. If the Assessing Officer is satisfied about the genuineness of the payee i.e. the one who has received salary, the Assessing Officer allows such expense even though NON stamped. Now what is your case?

Querist : Anonymous

Querist : Anonymous (Querist)

13 May 2016 Actually on salary vouchers of AY, 2014-15,
2015-16, 2016-17 i have not affixed any
Revenue stamp in this case problem
May be arise,

Amol S Joglekar

Amol S Joglekar (Expert)
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13 May 2016 you can affix it now, what is so great about it? Affix it and put "cancelled" and/or "initialled by you" on the same.

Querist : Anonymous

Querist : Anonymous (Querist)

13 May 2016 Sir tell me one more thing.. by affix Rs. 1
Revenue stamp how much maximum
Salary can i pay..

Amol S Joglekar

Amol S Joglekar (Expert)
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13 May 2016 no limit. Infinity. But mind very well, it is per payment. So to say, if you have 10 employees and salary is paid above INR 5000 to all of them and that too for whole year, on monthly basis, then you will need to have 10 X 12 X 1 = 120 revenue stamps. Am I clear?

Querist : Anonymous

Querist : Anonymous (Querist)

13 May 2016 Sir.. i am paying also Rs. 40000 PM to
some of the emplyee even on payment of 40000
Only Rs. 1 revenue stamp will be affix

Amol S Joglekar

Amol S Joglekar (Expert)
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13 May 2016 yes. Only Rs1 stamp per payment of 40,000.

Querist : Anonymous

Querist : Anonymous (Querist)

13 May 2016 Sir one of our emplyee salary is 6000 PM
He has taken salary in two installment
4000 and 2000 in however two diff salary
Vouchers was made one for 4000 and
another for 2000 in this case as No single
Payment is exceed 5000 hence No need
To affix the stamp right...

Amol S Joglekar

Amol S Joglekar (Expert)
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13 May 2016 You can stretch your imagination to any extent, but please do not forget that his/her salary is 6000 per month.
I can also add to your side....why dont you keep them on weekly basis. So automatically the HEAVY cost of revenue stamp affixation will be saved. What do you say?

Querist : Anonymous

Querist : Anonymous (Querist)

13 May 2016 Sir.. its not about keeping them on weekly
Basis you may have seen in some factories
Where in month two time salary used to
distriduted on 22th and 7th, hence in my
Earlier query the employee has taken
His salary in two part 4000 and 2000
Therefore i had also made two salaries
Vouchers for the same 4000 and 2000
So my simple question is as both the
Vouchers pertains to one month salary
However the amount is not exceed 5000
Not even in single voucher
As per this case weather i need affix the
Stamp on both the vouchers or not,

Amol S Joglekar

Amol S Joglekar (Expert)
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16 May 2016 No. In that case, revenue stamp is not required to be affixed.
(Since you are trying to go to BASICs, let me add a crucial point. The revenue stamp is required to be affixed by the person who receives the money. So to say, if you are paying salary, you are not the one who should be bothered about revenue stamp, Ok? Since your employees are receiving money, they should give you revenue stamped receipt....is it ok? The responsibility of affixing revenue stamp is that of the person who receives money.......

Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2016 That mean i don't need to make the
Salary vouchers since we paying salary
We should take the receipt from employee
Affixed by stampt if amount exceed 5000/-

Is this correct or not if correct then one
Question arise here why companies provide
salary to its employee instead of taking
salary receipt from employee,

Amol S Joglekar

Amol S Joglekar (Expert)
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16 May 2016 due to business custom, trade practice etc. It is always customary in commerce to provide some additional service

Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2016 Sorry... i mean why companies provide
salary slip to its employee instead of
Taking salary receipt from employee,

Amol S Joglekar

Amol S Joglekar (Expert)
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17 May 2016 that is what i tried to answer....It is customary on the part of employer to provide the slip