Sir can anyone tell me that, is it a neccesity to Affix a revenue stamp before making any cash payment in excess of Rs 5000, if so Under which act this restriction is provided
regards Dipankar
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cash payments in excess of Rs 5000
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The affix of revenue stamp is a must for the amount exceeding of Rs.5000 and above as per Indian stamps Act 1935. Earlier it was Rs.1000, before it was Rs.100 and above.
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.
thanks
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