in which case one payee has to give his acknoledgement by signing on a revenue stamp, while receiving payments. wheather it is necessary for payment made in A/c payee cheque to be acknoledged by a revenue stamp.please clarify as per the rules & provisions.
Regards
saroj.
Section 2(23) of the India Stamp Act 1899, it is mandatory to affix revenue stamp on any receipt above Rs.5000/- either by cash or by cheque.
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