Saroj Rout (CA FINAL) (120 Points)
27 June 2012
in which case one payee has to give his acknoledgement by signing on a revenue stamp, while receiving payments. wheather it is necessary for payment made in A/c payee cheque to be acknoledged by a revenue stamp.please clarify as per the rules & provisions.
Regards
saroj.
jaganathan
(accounts executive)
(272 Points)
Replied 28 June 2012
Section 2(23) of the India Stamp Act 1899, it is mandatory to affix revenue stamp on any receipt above Rs.5000/- either by cash or by cheque.
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