lakshminarayanan (CA (Final) Articleship) 20 May 2008

Indian Stamp Act

Is it necessary for an establishment making payment exceeding Rs 5000 to any party to affix a Revenue stamp on the payment voucher. If so, what are the establishment to which this act applies. Pls Clarify

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5 Replies

J K Agrawal (Advocates) 21 May 2008

Please go thrugh Indain stamp act and look at first schedule you will find answer of your question. (Remember that Stamp Law may be very state to state)

Vijay Kumar (Advocate) 21 May 2008

Sir, despite a lot of efforts, I could not find out where the description of the stamps is provided, as there are stamps of many descriptios viz. revenue, non-judicial etc.Kindly help.

Prakash Yedhula (Lawyer) 22 May 2008

Pl note that the Stamp Act is a State Subject and local stamp Act is to be checked for the quantum of stamps to be affixed. For Instance, In Tamilnadu, all cash disbursements in excess of Rs 500/- revenue stamp of Re1/- is to be affixed at the time of payment of disbursement.Failure to affix the stamp does not invalidate the transaction and only when the matter is taken up for adjudication, the issue would crop up and additional fee is to be paid before the case if any is proceeded upon

lakshminarayanan (CA (Final) Articleship) 22 May 2008

Thanx for de replies...

Guest (n/a) 22 May 2008

every receipt valued above 5000 requires duly stamped. In TN re.1 is to be affixed. revenue stamp alone need be affixed.

Indian Stamp Act

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