Stamp Act

This query is : Resolved

Hiren Vira (Querist)
Follow

26 June 2011 Sir,
I want to know the existing rules on affixing revenue stamp. Is there any revenue stamp having face value of Rs.5/- and on which transactions it is to be used?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

27 June 2011 Section 2(23) of the Indian Stamp Act,1899 makes it mandatory for affixing of stamp on any receipt, as defined therein above,of Rs 5000 and above(Previously it was Rs 500).

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
Follow

27 June 2011 Mr. Chakarpani is correct but the revenue stamp should not be less than Re. 1/-. In fact there is no revue stamp of Rs. 5/-. Stamp Rs. 5/- you can have court fee stamp which is required to be affixed on legal documents on the basis of subject matter and so on.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now