Revenue atamp

Manisha Gehlot (Querist) 12 August 2020 This query is : Resolved
How much revenue stamp value has to be affixed on loan agreement more than Rs. 100000

Follow Query

Report Abuse

Dr J C Vashista (Expert) 13 August 2020
Who is financier ?
Whether any collateral security / mortgage is created by financier ?
Incomplete facts can not lead to form an opinion and oblige.

Shilesh Patel (Expert) 13 August 2020
Post complete facts or ask the local lawyer.

Guest (Expert) 13 August 2020
As per RBI Norms and Income Tax Department No Cash transaction would be allowed more than Rs 20000/- and more than that should be Bank Transaction only. An Loan Agreement in 100 Rs Stamp Paper in your case would suffice and you could also collect Post Dated Cheque for your Safety.Always keep an Local Advocate for the guidance. ( The Revenue Stamps would be required only to the Transactions up to Rs.20000/- Only )

Rajendra K Goyal (Expert) 13 August 2020
Revenue Stamp (affixed on receipts and promissory notes) and stamp fee (Stamp paper of required amount) for loan agreement are different.

Stamp fee on loan agreement differ from state to state, in which state you want to execute.

In some states, it may differ with amount also.

Your Banker / local lawyer can guide you properly.

P. Venu (Expert) 13 August 2020
Please post the material facts.

kavksatyanarayana (Expert) 13 August 2020
I agree with the advice of learned expert Mr. K.Rajendra Goyal sir.

Rajendra K Goyal (Expert) 14 August 2020
Expert kavksatyanarayana, thanks for agreeing.

Rajendra K Goyal (Expert) 14 August 2020
The stamp fee would also differ on simple loan agreement, loan agreement associated with POA clause, loan agreement with hypothecation clause. Please clarify.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Ask Query
Unanswered Queries