1 rupee revenue stamp v/s rs.100/= non-judicial stamp paper
pundalika achyuta bhat
(Querist) 02 January 2014
This query is : Resolved
Sir, please let me know when One Rupee Revenue Stamp is sufficient in financial dealings of several Crores of Rupees, why then Rs.100=00 or more valued non-judicial stamp paper is insisted upon for executing Affidavit of various nature like applying for a new ration card etc.,?
Sir, why Affidavits cannot be executed on One Rupee Revenue stamp paper?
Whether any special privilege has been granted to non-judicial stamp papers over the One Rupee Revenue stamp?
Sir, please clarify.
With regards,
Pundalika A. Bhat.
Guest
(Expert) 03 January 2014
1 rupee revenue stamp receipt is limited to RS.20000/-only.Transaction in crores and very particular in stamp paper value is penny wise.Actually what is the problem
pundalika achyuta bhat
(Querist) 03 January 2014
Sir, in Banks Demand Promissory Notes for Crores of Rupees are executed on One Rupee Revenue stamp. It is true that Banks do obtain supplementary documents like Loan Agreement etc., as per relevant stamp act.
Then why a common man like me should be made to pay Rs.100=00 or more by way of executing various Affidavits on non-judicial stamp papers, when the affidavit work does not involve any monitory consideration?
Through this Forum I am exploring the possibility of executing Affidavits on One Rupee Revenue stamp.
Guest
(Expert) 03 January 2014
First of all you understand banks doesn't pay you any cash and their payments are only by instruments.Moreover they take sufficient documentations before they disburse the payments.May be the banks would have affixed the revenue stamps in their receipts for payments like cheques or D/D which is not required also
Rajendra K Goyal
(Expert) 03 January 2014
So far a stamp paper on affidavit is concerned it varies from state to state. In Haryana it is Rs.10/- and not Rs.100/-. The stamp fee can be fixed and changed by state Govt. and it is a source of revenue for them.
ABDUL RAZIQUE
(Expert) 04 January 2014
well opined by Narasimha Sir. nothing more to add.
always welcome dear AUTHOR.
V R SHROFF
(Expert) 04 January 2014
STATE DECIDE, FOR IT'S REVENUE, INCOPME.
ONLY GOVT CAN CHANGE IT.
In Mah state it was Rs. 20/- , and increased to Rs. 100/- , i.e. 5 times.
Increase of salary is app 10% p a
here it is 500% at a time..
We have to use it 100/-, whether we like it or not, whether it is justified or not.
NO QUESTION ASKED..
IT IS LAW..
Nikhil Joshi
(Expert) 05 January 2014
Experts have already answered your query I wish to add that Rs.1 revenue stamps are small in size,portable,can be easily carried in pockets for any emergency payments to be made and for which you need receipts as proof. They are mostly used for taking payment receipts only.
Nikhil Joshi
(Expert) 05 January 2014
Experts have already answered your query I wish to add that Rs.1 revenue stamps are small in size,portable,can be easily carried in pockets for any emergency payments to be made and for which you need receipts as proof. They are mostly used for taking payment receipts only.
Nikhil Joshi
(Expert) 05 January 2014
Experts have already answered your query I wish to add that Rs.1 revenue stamps are small in size,portable,can be easily carried in pockets for any emergency payments to be made and for which you need receipts as proof. They are mostly used for taking payment receipts only.
Rajendra K Goyal
(Expert) 07 January 2014
Stamp paper is sold after due entry by Stamp Vender which forms an evidence in future disputes.
Hemant Agarwal
(Expert) 20 August 2014
for: "pundalika achyuta bhat"
REFER: to your original query:
1. Firstly ANY Affidavit CANNOT be executed using Revenue Stamp/s.
2. Secondly "Revenue Stamps" .AND. "Judicial Stamp Papers", are totally two separate things. Further "Revenue Stamp" and "Non-Judicial Stamp" are also two separate things, used ONLY for relevant issues, as applicable.
3. Thirdly affixing of "revenue stamps" is required for limited Cash financial receipts AND affixing of revenue stamps for non-cash transactions are exempted.
4. In Maharashtra, a Affidavit can be executed only on "Judicial Stamp Papers". (However presently the MH Govt. has exempted the requirement of judicial stamp papers and now affidavit can be executed on plain paper)
Keep Smiling .... Hemant Agarwal
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ABDUL RAZIQUE
(Expert) 20 August 2014
As per my knowledge :
Revenue Stamps are used to collect fees or revenue for maintaining courts. There was a law called e Indian Stamp Act 1899. This law was amended for 51 times since 1899 to 2004.
Under section 30, if you make a payment of more than Rs. 5000/- to any other, then you can can insist on getting a stamped receipt with Re 1/- revenue stamp. In this case if the payee refuses to give a receipt with a revenue stamp, then he can be punished with a fine of Rs. 100/- under section 65.
For every legally permitted transaction a certain amount of revenue is needed to be given to the government. Stamping of receipts or main documents evidencing giving and taking of money also need such revenue and the revenue stamp is affixed in proof of that. A properly stamped receipt or debt document or note gets a prima facie priority as an acceptable legal proof over a plain paper receipt.
In sale transactions deeds, payment of consideration is established by annexing to the deed a revenue stamp affixed receipt only(of advance payment(s) or final payments).
In case of a dispute arising, this stamped receipt can be produced as the prime proof of the money being given and received. In such cases this plays a vital role. Those which are not properly stamped can be rejected also depending on many other factors. The stamping also falls under the time to time guidelines regarding value and slab of the amount of transaction.
