Revenue Stamp Issue
This query is : Resolved
05 March 2021
We have to make daily cash payment as of Rs 5,000 to one our supplier. Please let me know the slab of revenue stamp and how much payment can be made in cash to a single person during the whole year.
28 October 2021
Under section 30 of Indian Stamp Acts 1899, the recipient of above Rs.5000, shall mandatorily acknowledge the payment with a receipt affixing one Rupee revenue stamp on it as a proof of payment. Refusal to give such receipt with a discharged revenue stamp, may lead to punishment of with a fine of Rs. 100/- as per section 65 of stamp act.
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