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Revenue Stamp on Cash payment exceeding Rs. 5000/-

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This query is : Resolved

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Revenue stamp of 1 is mandatory on receipts exceeding 5,000 as per the Indian Stamp Act, 1899 (amended). It applies to any written acknowledgment of money received.

ravikumar

ravikumar (Querist)

16 July 2024 Is the cited subject in mandatory as of now?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

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,

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