Stamp papers

Anurag Iyen (Querist) 07 September 2012 This query is : Resolved
Hi,
I would like to know, what is the slab rate for using stamp papers.

Example: If i am giving advance to any employee of Rs.1,00,000/- and above, on what denomination stamp paper i need to use for agreement. Is it Rs.10/- or Rs.20/- or Rs.50/- Or Rs.100/-

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R.K Nanda (Expert) 07 September 2012
Go for Rs.100/-SP.

Sailesh Kumar Shah (Expert) 07 September 2012
for only advance payment, there is no need to use stamp paper.

V R SHROFF (Expert) 07 September 2012

As such in Mumbai, min stamp paper avl is Rs. 100/-

Rarely u get Rs. 50/- st p
10 & 20 are gone .. can get franking only.

As u want writing on stamp papers, from your employee for Advance, you do not need stamp paper. use plain paper & pay by cheque as amt is 1L

prabhakar singh (Expert) 07 September 2012
payment of advance towards salary does not attract stamp duty.

Anurag Iyen (Querist) 10 September 2012
I have one more doubt. In case if we do not make any agreement with employee regarding the recovery of the amount which we have given, in case he refuse to pay or resign from the service or abscond from the office then how to prove that we have given advance to that particular employee or person.

ajay sethi (Expert) 10 September 2012
there must be letter intimating him about loan given . that should suffice . he must have also signed on such letter accepting the fact that loan was received

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