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stamp validity

(Querist) 14 September 2017 This query is : Open 
sir, i have purchased stamp of Rs 500 for notarised a gift deed. but it did not notarised. can i notarised it now. stamp paper purchased on 10 February 2017. pl suggest. thanks
Ms.Usha Kapoor (Expert) 15 September 2017
The gift deed should be stamped and registered in order to have validity.If you are transferring the property to a specified relative as defined under IT act less stamp duty and registration fee is payable and you can save on gift tax or capital gains tax also under IT Act 1961.
Kumar Doab (Expert) 15 September 2017
Your query is for validity of stamp paper after about; 7 months+.
Isn't it.
Kumar Doab (Expert) 15 September 2017
Go thru:

Indian Stamp Act, 1899

54. Allowance for stamps not required for use

http://www.advocatekhoj.com/library/bareacts/indianstamp/54.php?Title=Indian%20Stamp%20Act,%201899&STitle=Allowance%20for%20stamps%20not%20required%20for%20use

http://mof.gov.in/law/Stamp%20Act%201899.pdf
Kumar Doab (Expert) 15 September 2017
11. The Trial Court and the High Court have doubted the genuineness of the agreement dated 5.1.1980 because it was written on two stamp papers purchased on 25.8.1973 and 7.8.1978.


Secondly, as the stamp papers used in the agreement of sale were more than six months old, they were not valid stamp papers and consequently, the agreement prepared on such 'expired' papers was also not valid. We will deal with the second contention first.

The Indian Stamp Act, 1899 nowhere prescribes any expiry date for use of a stamp paper. Section 54 merely provides that a person possessing a stamp paper for which he has no immediate use (which is not spoiled or rendered unfit or useless), can seek refund of the value thereof by surrendering such stamp paper to the Collector provided it was purchased within the period of six months next preceding the date on which it was so surrendered.

The stipulation of the period of six months prescribed in section 54 is only for the purpose of seeking refund of the value of the unused stamp paper, and not for use of the stamp paper.

Section 54 does not require the person who has purchased a stamp paper, to use it within six months.

Therefore, there is no impediment for a stamp paper purchased more than six months prior to the proposed date of execution, being used for a document.


Supreme Court of India

Thiruvengada Pillai vs Navaneethammal & Anr

https://indiankanoon.org/doc/14125/

Kumar Doab (Expert) 15 September 2017
You may wait for the advise of other experts on your query for validity of the stamp paper.

And also the match that has been started for thanks................

For anything and everything there is a Thanks/Like..............

Although it fetches nothing, however, why to unnecessarily start such blind use of an option................
Kumar Doab (Expert) 15 September 2017
Dear Ms. Usha Kapoor, Mr. G.L.N.Prasad,

My thanks are also posted....
Kumar Doab (Expert) 15 September 2017
Dear LCI Querist @ ad,

What is the opinion of your LOCAL counsel.
The sharing always helps.
Rajendra K Goyal (Expert) 15 September 2017
What type of gift it relates to, whether property is movable or immovable?

Gift of any immovable property has to be registered, notarized not valid.
ad (Querist) 08 November 2017
sir, i had taken some money from my parents and brother for urgent need of money. thzse transactions dine in 5 to 8 installments via online transactions.
ad (Querist) 08 November 2017
sir, i had taken some money from my parents and brother for urgent need of money. thzse transactions dine in 5 to 8 installments via online transactions.


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