if revenue stamp is not affixed on voucher for payment of cash for more than Rs.5,000/- what will be conseuences or problems arrise for that?
2 Replies
MAGESH.G
(STUDENT)
(195 Points)
Replied 20 August 2009
This provision cannot be adhered to non-availability of Revenue Stamps
Anurag Krishna
(Chartered Accountant)
(40 Points)
Replied 20 August 2009
If revenue stamp is not used for payments in excess of Rs. 5,000, then in case of any future dispute the voucher will not be accepted as authentic in court of law.
This I came to know from my auditing experience but I don't know the specific section or act for this rule ....
As Mr. Magesh has mentioned practically it is not possible to use revenue stamp due due to its unavailability.
regards,
anurag
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