Is there any compulsion relating to stamp paper?
Querist :
Anonymous
(Querist) 24 October 2011
This query is : Resolved
i recently entered into the shop rent agreement, i insist the advocate to make a agreement on Rs.50 stamp paper they deny and told since 2002 Rs.50 stamp paper not applicable in this case so he make agreement on Rs.100 stamp paper, i want to know at what basis stamp paper is to be selected for specific matter, is stamp paper may be expiry if yes what is expiry period
Sailesh Kumar Shah
(Expert) 24 October 2011
According to a recent Supreme Court judgement dated 19/02/2008 in the case of Thiruvengada Pillai Vs. Navaneethammal and Anr. held that The Indian Stamp Act, 1899, nowhere prescribes any expiry date for use of a stamp paper. Section 54 merely provides that a person possessing a stamp paper for which he has no immediate use (which is not spoiled or rendered unfit or useless), can seek refund of the value thereof by surrendering such stamp paper to the Collector provided it was purchased within the period of six months next preceding the date on which it was so surrendered. The stipulation of the period of six months prescribed in Section 54 is only for the purpose of seeking refund of the value of the unused stamp paper, and not for use of the stamp paper. Section 54 does not require the person who has purchased a stamp paper, to use it within six months. Therefore, there is no impediment for a stamp paper purchased more than six months prior to the proposed date of execution, being used for a document.
prabhakar singh
(Expert) 25 October 2011
From the answer of Mr.Shah you must have got it clear that a STAMP DOES NOT EXPIRE AND LIKE CURRENCY CAN BE USED ANY TIME BUT REFUND FROM TREASURY CAN BE TAKEN ONLY WITHIN 6 MONTHS.
NOW COMING TO YOUR FIRST QUESTION ,THE STAMP DUTY ON ANY AGREEMENT IS DECIDED ON THE BASIS OF SCHEDULE OF THE ACT OF STAMP LAWAPPLICABLE IN STATE WHERE AGREEMENT IS BEING EXECUTED.
Shonee Kapoor
(Expert) 25 October 2011
Act of Stamp Law has the answer to your query alongwith state amendments if any.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
