Affixing Revenue Stamp for payments.
This query is : Resolved
Mohanakrishnan
(Querist)
04 May 2010
Please advise the requirements of Law with regard to obtaining a stamped Receipt (Revenue Stamp)? Should a payee issue a stamped receipt, if the money is taken as advance towards expenses to be incurred on behalf of the company? Is there any exemptions for Charitable Trusts?
CA krishna Kamthe
(Expert)
04 May 2010
As per stamp act if payment is more than 5000 then RS 1 revenue stamp is to fix.
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