revenue stamp for a promissory note for rs 4 lakhs

Querist : Anonymous (Querist) 04 May 2023 This query is : Resolved
Kindly advise me the vaule of Revenue Stamp to be affixed for a promissory note for Rs 4 lakhs in the state of Telangan

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T. Kalaiselvan, Advocate (Expert) 05 May 2023
Affixing the revenue stamp of stamp duty for any transactions is a state subject, if you are in doubt about the existing practice, you may contact an official of the sub registrar office near to you.

Dr J C Vashista (Expert) 07 May 2023
Revenue stamp on any such transaction of Re. 1/- is fixed through out India.

K Rajasekharan (Expert) 07 May 2023
The value of stamp for a Promissory Note of any amount is fixed as Re one, as stated above by Dr Vashista.

The value is fixed by the Union government in the Indian Stamp Act. That is why state acts do not include the item.