Cash voucher vs cash receipt
Amit
(Querist) 25 April 2013
This query is : Resolved
In a property sale payment made in cash by an individual who is the MD of a Pvt ltd company 3 directors him his wife and a friend.
Property is being purchased by the MD as an individual.
Payment is said to have been made in cash in a unregistered un notorised agreement for sale.
Cash vouchers signed are without revenue stamp and amounting to Rs 10 Lac Each. I am looking to challenge the agreement need help on this point.
Need clarification on :-
1. Can a cash voucher be a replacement for a Receipt.
2. A consolidater Receipt does exist as a part of the agreement so is the cash voucher not needed at all.
3. What is the maximum amount possible on a cash voucher thst to wiithout a revenue stamp for a property transaction.
Guest
(Expert) 25 April 2013
1) Cash voucher is just for accounting purposes of an organisation and cannot replace the legal cash receipt duly stamped with revenue stanp, particularly where any considerable amount is involved, while the present case is for Rs. 10 Lakhs. Moreover, cash receipt has to be attached with the voucher in support of making such a huge payment. otherwise the transaction becomes invalid.
2) Agreement cannot replace cahs receipt to be treated as such.
3) Payment of more than Rs.5,000/- must not be made without affixing revenue stamp on the cash receipt.
Amit
(Querist) 26 April 2013
Although the cash vouchers would be invalid would a common receipt for all cash vouchers as a part of the agreement be valid? oR WOULD HE REQUIRE SEPERATE CASH RECEIPTS FOR EACH VOUCHER
He does have a common cash receipt which states DATES ARE SPANNING 6 MONTHS
xx/xx/xx 10 lacs
xx/xx/xx 10 lacs
xx/xx/xx 10 lacs
xx/xx/xx 10 lacs
xx/xx/xx 02 lacs by bearer cheque
xx/xx/xx 02 lacs by bearer cheque
xx/xx/xx 02 lacs by bearer cheque
xx/xx/xx 02 lacs by bearer cheque
TOTAL 48 LACS PAID
but has four cash vouchers for 10 lacs and one CASH VOUCHER FOR 8 LACS
Anirudh
(Expert) 26 April 2013
Cash receipt can be read as an Agreement provided it has relevant linkage to the land / property in question. Non-stamping will not hamper the validity of the receipt. All that is required is to affix the requisite revenue stamp and cross it. That's it.
Guest
(Expert) 26 April 2013
Mr. Amit,
Are you really serious to solve your problem? Your basic query was solved, but you have now come up with supplementary information when you are still not coming forward with your real problem.
Do you feel that we have enough time to waste in reading your part information from time to time and reply in parts every time? As a proprietor of a firm, don't know the basics of accounting and cash receipts?
By the way, as a proprietor, what is your own concern with the transactions of an MD of a company? How the sale/purchase of the property is related to you and in what capacity you want to challenge the agreement?
Amit
(Querist) 26 April 2013
Am really sorry bout giving the information the way i did. am really SORRY
I have bought the property as an individual. All legal procedures followed. Form 20 a and 20 b submitted, Paper ad given for any claims, search report, paid stamp duty and registeration. Property is in my name and am in posession.
He claims to have purchased the same property 10 days before i got the same registered. He says he has been paying cash for the same since last 6 months. All his payments are in cash and the vendor has expired. He has filed a suit under specific relief act. He had also filed a Pauper petition earlier. Want to file for dismissal. He is trying to blackmail me. we found certain changes in documents relied upon on inspection which we told the court. He has filed a criminal complaint against me my lawyers and his lawyer too stating it was done by us.
Met a few lawyers but got more confused
Some say file for dismisal under secrion 9
Some say file for rejection under Order 7 rule 11
Some say let the suit go on and get rejected
Some say object his pauper petition in the suit itself
Guest
(Expert) 26 April 2013
Mr. Amit,
When you found several such complexities in your case, did you feel that proper to just release bit by bit information and seek solutions to such bits merely on your own perceptions? That course of action on your part can only confuse you more than you can derive any benefit out of the replies of the experts, as based on your own assumptions & the nature of queries you raise?
I am sure, the contradictory position explained in your latest post would also been been the result of your bit by bit queries to those people who rendered you varied advice.
In fact, your problem is not such, which you could get solved by such type of casual queries. You need to consult personally some expert to get full fledged advice from him after examination and analysis of the whole bunch of the case related documents and other needed information.
OTHERWISE, you would only land in more and more cofused state of affairs, rather than gaining any help from the experts, if you continue to provide them only piecemeal inoformation merely on your own assumptions and interpretations about the case and the documents.
Amit
(Querist) 26 April 2013
Thank you for ur valued suggestion.
will do as adviced. Wish you were in Mumbai though !!
Guest
(Expert) 26 April 2013
At Mumbai, if you like, you can contact Mr. Ajay Sethi with the following contact No. and email ID:
mobile no 9820087763
ajaysethi64@gmail.com
Amit
(Querist) 29 April 2013
Thank you for the contact info of adv. Ajay... will meet him as soon as possible. Appreciate your help !! Might trouble you again after i meet Adv AJAY
