Revenue Stamp on Cash payment exceeding Rs. 5000/-
This query is : Resolved
Quick Summary
17 July 2024
Yes, In view of the amendment of Schedule I, to the Indian Stamp Act 1899, the one-rupee stamp is required to be affixed on any receipt, the amount or value of which exceeds Rs 5,000. This amendment has come w.e.f. 10.09.04. The stamp is required to be affixed in respect of receipt which has been defined as under in Section 2(23) of the aforesaid Act.
“Receipt” includes any note, memorandum, or writing whereby any money or any bill of exchange, cheque or promissory note is acknowledged to have been received,
“Receipt” includes any note, memorandum, or writing whereby any money or any bill of exchange, cheque or promissory note is acknowledged to have been received,
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