AFFIDAVIT & LETTER OF AUTHORITY

Save Share

This query is : Resolved

anckoora (Querist)
Follow

03 March 2010 dear sir

we are dealers in gold ornaments. we send our employees out of state with gold ornaments to show our dealers out there. Our dealer will approve some and balance our employee will bring back. We do proper documentation for this, i.e., prepare delivey note (approval basis) in employees's name etc.
we have also given our employee our Letter of Authority and also Affidavit -for carrying this ornaments-on 100/- stamp paper-which they carry while on travelling and show whenever demanded by any authority, i.e., s.tax, excise, octroi, police etc. Both this documents state that he is our employee & authorised to carry valuable ornaments for our business purpose etc. We also notarise these two documents.
Now, let us know-(a) Is it necessary to prepare new Authority Letter & Affidavit
every time after six months-as validity of any stamp paper is six months only.
thanks in advance.
anckoor

Rasesh

Rasesh (Expert)
Follow

03 March 2010 The validity of six months is only for the purposes of obtaining refund of the value of stamp paper, in case it is not properly put to use or damaged.

A stamp paper which is older than six months can be executed with today's date and it would be completely valid.

With reference to your query, my view is that the affidavit and letter of authority would be valid unless it is revoked or overruled by a subsequent affidavit/letter.

CA Gangadhar Mishra

CA Gangadhar Mishra (Expert)
Follow

03 March 2010 To my understanding if the documents- (Affd & POA) are prepared on stamp paper , it is valid for the period you have mentioned in the documents, say valid for 1 year or 2 or 3 years, etc. if period is not specified then it is valid for 6 months, you may take other experts view also.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now