Revenue Stamp for cash payment above Rs 5000

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Discussion clarifies that as per the Indian Stamp Act 1899, a revenue stamp is required on receipts above Rs 5000. Even if a bill is attached to a cash voucher, stamping may still apply if it qualifies as a receipt.

ANAND U PATANKAR

ANAND U PATANKAR (Querist)

09 April 2009 Dear All,

It is always argued that where an invoice/bill is attached to a cash voucher, there is no need to affix revenue stamp on it though it is in excess of Rs 5000/-

Please guide and give legal provision .

Anand

CA CS CMA Srinivasan N

CA CS CMA Srinivasan N (Expert)

09 April 2009 Section 2(2 3) of the Indian Stamp Act 1899 makes it mandatory for affixing of stamp on any receipt as defined therein above Rs 5000.

2(23) "Receipt" includes any note, memorandum or writing-

(a) whereby any money, or any bill of exchange, cheque or promissory note is acknowledged to have been received, or
(b) whereby any other movable property is acknowledged to have been received in satisfaction of a debt, or
(c) whereby any debt or demand, or any part of a debt or demand, is acknowledged to have been satisfied or discharged, or
(d) which signifies or imports any such acknowledgment;
and whether the same is or is not signed with the name of any person "

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