Value of non judicial stamp paper for Loan agreement
G.Rameswar Sharma
(Querist) 17 September 2016
This query is : Resolved
What value of non judicial stamp paper is reqd. for making loan agreement?
Raj Kumar Makkad
(Expert) 17 September 2016
How are you concerned with the query? From whom you are (if you are) seeking loan and what is its amount?
Ms.Usha Kapoor
(Expert) 18 September 2016
Dear Client,
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Indian Rupee (INR)
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What is a non-judicial stamp paper? Why is it required? What are differences between 10 Rs, 20 Rs, and 50 Rs non-judicial stamp paper
What is Non Judicial stamp paper?
Non Judicial Stamp paper and Legal Paper (Plain Paper) both are the different terms in aspect of their nature.
On Non Judicial Stamp Paper Magistrate never write the decision of the Case, though Magistrate write the decision on the Legal Paper (Plain Paper).
That is why it is called as Non-Judicial Stamp Paper.The Paper which not be considered as Judicial.
Why Non Judicial Stamp Paper is required and What is the differences between 10 Rs, 20 Rs, and 50 Rs non-judicial stamp paper ?
The Government collects the revenue through the sale of Non-judicial stamp paper.
For each Article there is a Separate stamp duty like -
Stamp Paper of Rs. 10 used for Affidavit, Declaration, Undertaking etc.
Stamp Paper of Rs. 20 for Special Power of Attorney.
Stamp Paper of Rs. 50 for General Power of Attorney/Agreement.
Stamp Paper of Rs. 100 for Indemnity Bond, Guarantee Bond.
So as per the above you'll have to pay Rs.50 Non Judicial stamp paper on Loan agreement.
Rajendra K Goyal
(Expert) 18 September 2016
Academic query.
Stamp duty differ from state to state, discuss / consult concerned Bank office / local lawyer.
