BALDEVBHAI MANEKLAL PATEL (PRINCIPAL) 19 July 2012
Dear sir,
I want to lend Rs. 100000 ( one lakh ) to my friend by making promissory not (payable on demand or payable at sight) without bearing any interest. My question is that what amount of stamp is to be affixed on pro. note to make it legal as per Gujarat stamp act 1958 ?
Place- Ahmedabad
date- 19th july 2012.
Honourable sir, please reply me within 2 or 3 days as I am in hurry. Meanwhile thanking you.
B. M. Patel
e-mail id.- ketbalpatel@yahoo.co.in
mo.- 9925288678
K. GOPALAKRISHNAN (ADVOCATE) 21 July 2012
Dear Patel,
Stamp duty on Promissory Note is Re.1/- (Revenue Stamp)
However, it is advised to get the undated cheque from your friend for the amount of lending as abundant caution.
In default by your friend, with Promissory Note you can proceed against him in the Civil Court and whereas by obtaining Cheque you may proceed against him in the Criminal Court.
K. GOPALAKRISHNAN (ADVOCATE) 21 July 2012
Dear Patel,
Stamp duty on Promissory Note is Re.1/- (Revenue Stamp)
However, it is advised to get the undated cheque from your friend for the amount of lending as abundant caution.
In default by your friend, with Promissory Note you can proceed against him in the Civil Court and whereas by obtaining Cheque you may proceed against him in the Criminal Court.
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