Stamp duty

Arif Ali (Apt Co Advisory) (Querist) 20 January 2012 This query is : Resolved
plz any one tell me that revenue stamp is mandatory on what amount i.e. >= 5000 or >5000.

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Raj Kumar Makkad (Expert) 20 January 2012
Your query is not clear.

Deepak Nair (Expert) 20 January 2012
The amendment of Schedule I, to the Indian Stamp Act 1899 states that, the one-rupee stamp is required to be affixed on any receipt, the amount or value of which exceeds Rs 5,000. This amendment has come w.e.f. 10.09.04. The stamp is required to be affixed in respect of receipt which has been defined as under in Section 2(23) of the aforesaid Act

Thus no revenue stamp is required for Rs.5000/- or less, but for Rs.5001 and more.

Sailesh Kumar Shah (Expert) 20 January 2012
Mr. Deepak Rightly stated provisions regarding revenue stamp.

V R SHROFF (Expert) 20 January 2012
>5000 more than 5000 rupees

Devajyoti Barman (Expert) 20 January 2012
rightly advised above.

prabhakar singh (Expert) 21 January 2012
YES!rightly advised above.

Shashikant V. Patil (Expert) 21 January 2012
Mr. Nair rightly suggested.

Advocate. Arunagiri (Expert) 21 January 2012
If you dont affix revenue stamp, you have to pay 10 times fine if you use it in the court for any litigation.

Even if there is no revenue stamp that document is a valid evidence.

RAJU O.F., (Expert) 26 January 2012
For acknowledgement of a debt for the amount exceeding 20 rupees, one rupee stamp duty bu revenue stamp to be affixed; and hence not for, more than Rs.5000. In the case of Promissory Notes,
for less than Rs.250 stamp duty 10 paise
for 250 to 1000 ,, ,, 15 paise
for more than Rs.1000, ,, ,, 25 paise

The above rates are applicable in Tamil Nadu and other states it may vary.

Shonee Kapoor (Expert) 31 January 2012
Nothing left to add.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

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