Promissory Note

Guest (Querist) 06 April 2009 This query is : Resolved
Seniors Please guide
1. What is the stamp duty for Promissory Note of Rs.10000/-(ten thousand)?
2. Whether Promissory Note prepared on non judicial stamp paper is a valid one?

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arunprakaash.m. (Expert) 06 April 2009
one rupee revenue stamp is enough.
non judicialstamp paper ofrs.100.00 is also valid.if you havestill confusion affix rs.five revenue stamp

Guest (Querist) 06 April 2009
What if it has been made on a Rs.20 non judicialstamp paper?

sanjay singh thakur (Expert) 06 April 2009
Dear Jewel
Legally it should be on 15 paise/Rs.1 Revenue stamp. This is because for promissory note only Revenue stamp is required.

Guest (Querist) 06 April 2009
thanks but if already prepared on Rs.20 non judicialstamp paper, is it invalid?

Hiralal Das (Expert) 07 April 2009
Thanks all of you the ld. members and the author.
I think your valuable opinions will assist everybody to solve their problem/matter in question properly.

B.B.R.Goud. (Expert) 07 April 2009
hai...

One rupee revenue stamp is enough.
Non judicialstamp paper ofrs.100.00 is also valid.
If you have still confusion affix Rs.five revenue stamp.
Even though it is Rs.20 non judicialstamp paper, it is valid.

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