Hi all,
Can u tell me above which amount we have to attest revenue stamp?
13 Replies
CA Pratik Dharod
(Bussiness)
(178 Points)
Replied 13 December 2010
Above which amount of cash payment voucher we have to attest revenue stamp?
CA ANKUSH AGGARWAL
(CHARTERED ACCOUNTANT)
(2782 Points)
Replied 13 December 2010
The answers to your queries are as under:
- In view of the amendment of Schedule I, to the Indian Stamp Act 1899, the one-rupee stamp is required to be affixed on any receipt, the amount or value of which exceeds Rs 5,000. This amendment has come w.e.f. 10.09.04. The stamp is required to be affixed in respect of receipt which has been defined as under in Section 2(23) of the aforesaid Act:“Receipt” include any note, memorandum or writing-
-
-
whereby any money, or any bill of exchange, cheque or promissory note is acknowledged to have been received, or
- whereby any other movable property is acknowledged to have been received in satisfaction of a debt, or
- whereby any debt or demand, or any part of a debt or demand, is acknowledged to have been satisfied or discharged, or
- which signifies or imports any such acknowledgement, and whether the same is or is not signed with the name of any person.
- In view of the above, the cheque received would also be covered for the affixation of the stamp.
- The withdrawals from bank account is not in the nature of receipt as defined herein above. However, the payment on a maturity of fixed deposit would definitely be covered.
- The instrument which is not duly stamped is inadmissible as an evidence.
CA ANKUSH AGGARWAL
(CHARTERED ACCOUNTANT)
(2782 Points)
Replied 13 December 2010
CA Pratik Dharod
(Bussiness)
(178 Points)
Replied 13 December 2010
Dear Ankush,
u have informed me about cash receipts....
but what about cash payments?????
CA Mohit Thareja
(Assistant Manager-Accounts & Finance)
(1117 Points)
Replied 13 December 2010
plss reply Ankush about cash payments...........
CA ANKUSH AGGARWAL
(CHARTERED ACCOUNTANT)
(2782 Points)
Replied 13 December 2010
" Dear, All cash payment which is exceeding Rs 5000 required cash receiver's signature on revenu stamp"
therefore as per ma opinion revenue stamp is required for amnt exceeding rs 5000
CS LLB Pulkit Gupta
(https://www.facebook.com/pages/Life-and-Promises/553962034682487)
(16631 Points)
Replied 14 December 2010
Good work Ankush
vinayak
(article clerk)
(62 Points)
Replied 14 December 2010
Cash Payment Above Rs. 5000 Must have revenue stamp on the voucher
Kiru.G
(Article Assitant)
(273 Points)
Replied 15 December 2010
payment made above 5000 must have stamp on voucher and signed by the party.ie receiving person must sign.
santosh kumar gupta
(CA)
(159 Points)
Replied 09 January 2011
Revenue Stamp affixed in voucher of Exceeding Rs. 5000/- Cash Payment and receiver must be sign on Rs .1 Stamp and take money.
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