Criminal Trident Pack: IPC, CrPC and IEA by Sr. Adv. G.S Shukla and Adv. Raghav Arora
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Pankaj Mehta (Advocate)     27 April 2010

proper stamp duty on a receipt & promissory note

please suggest about applicable  stamp duty as adhesive stamp on a receipt and a promissory note, when the document is having value exceeding Rs.10,000. I have searched a lot in indian stamp act and other state laws and in my opinion receipt shall bear stamp of Rs.2 and promissory note shall bear stamp of Rs.4. Is it true??

Please also suggest me that this document will be governed by central law or state stamp law, as the document bears revenue stamps issued by central government  



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 3 Replies

SRIKANTH MYLAVARAPU (SENIOR OFFICER (LEGAL))     03 June 2010

for promissory note 20 paisa stamp is enough irespective of amount borowed

for receipt one rupee stamp is sufficent

Natarajan M (Advocate)     01 November 2011

One Rupee Revenue Stamp is sufficient for a Receipt, if the amount is above Rs.5000, under Article 53 of Indian Stamp Act.  If the amount is less than Rs.5000 you need not affix any Revenue Stamp.

In the case of Promissory note, under Article 49 of Indian Stamp act, you have  to affix Rs.0-25 Ps revenue stamp is to be affixed.

I.S.Roy,Advocate (Advocate)     29 November 2011

Dear Sir

                 I will agree with Mr Natarajan to the extent of below mentioned but  remaining part regrdijng Rs 5000/- I never agree

                 In the case of Promissory note, under Article 49 of Indian Stamp act, you have  to affix Rs.0-25 Ps revenue stamp is to be affixed. At present we unable to get 25 np revenue stamp so, we have to affix only Rs 1/- revenue stamp .In fact, regrding recept, the stamp duty is amended i.e. for Rs 500/- or below Rs 500/- no need to be stamped but above Rs 500/- it required Rs 1/- revenue stamp and as per my knowledge for promissory note no amendment was taken place


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