24 April 2012
Dear all, Kindly explain, in which section of Income Tax Act or any other law, there is require to fixxed the revenue stamp on above Rs 5000/- cash payment on my email id email@example.com.
25 April 2012
A payment transaction is authenticated by affixing a Revenue Stamp as per the legal requirement. Being auditors, we have to verify that the legal format of transaction is whether adhered to by the Auditee or not. In case stamp is not found affixed, the mistake can be ratified by affixing proper stamp.