Revenue Stamp Usage and its guidelines

This query is : Resolved

Sanjay Dhaduti (Querist)
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14 March 2009 We use revenue stamps for any vouchers or rent receiptsor any other receipts. Are there any guidelines or rules for usage or applicability of Revenue stamp usage.

Is it dependent on the value of the transaction?
Using a revenue stamp on a receipt What does it signify

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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14 March 2009 Revenue Stamps are used for cash payments made on and above a specific amount.

1. Every cash payment more than Rs. 5000.
2. It will be used as a proof that the payment has been made to the person signed the cash voucher.

K V Subba Rao

K V Subba Rao (Expert)
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14 March 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 "

Source: http://www.taxworry.com/2007/01/why-stamp-of-rs-one-has-great-value-in.html

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