Revenue Stamp

This query is : Resolved

JACOB BABOO (Querist)
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11 November 2008 I want to know whether there is any penalty for not fixing revenue stamps for payments above Rs.5000/-

I have one more doubt stamp duty act says that we have to affix revenue stamp for all payments including cheque above Rs.5000

Here every body is fixing revenue stamps for cashpayments above Rs.5000/-

which is right

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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11 November 2008 No penalty, but in the case of any court proceedings, for any disputes then penal stamp duty will be applicable for not affixing appropriate stamp

JACOB BABOO

JACOB BABOO (Querist)
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12 November 2008 I have one more doubt stamp duty act says that we have to affix revenue stamp for all payments including cheque above Rs.5000

Here every body is fixing revenue stamps for cashpayments above Rs.5000/-

which is right

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S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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12 November 2008 It is for both.