13 December 2013
while doing vouching i see revenue tickets being pasted on vouchers for beyond a certain cash limit. what is the purpose of this revenue tickets? Does revenue ticket make vouchers enforceable in the court of law (or being a legal paper)?
13 December 2013
it is required as per the Indian Stamp Act, 1899 to affix stamps on vouchers and cash receipts. The amount above which stamp is mandatory may vary due to operation of various stamp acts in force in different states. Without the stamp the documents would carry a legal defect.
13 December 2013
The basic purpose of the revenue stamp is to give a legal identification to the document even on the plain paper. Revenue stamp has got more uses than just the payment vouchers.
Let us say you sell your vehical to a third party and you can make a sale and purchase reciept on plain paper and affix a revenue stamp on it, so it will now be accepted in court of law.
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