Revenue stamp on cash payment voucher

Hi friends,

This is for all of you who have posted ther comment.

As per Indian Stamp Act 1899, certain receipts should have to be affixed with stamp. 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 .[Previously it was Rs 500]"
 

Stamp duty on Receipt - Stamp Duty on receipt is Re. 1 for receipt above Rs. 5,000. Receipt includes any note, memorandum or writing [whether signed by any person or not] (a) where any money, or any bill of exchange or promissory note is acknowledged to have been received or (b) where any other movable property is acknowledged to have been received in satisfaction of a debt or (c) whereby any debt or demand is acknowledged to have been satisfied or discharged or (d) which signifies or indicates any such acknowledgment [section 2(23)].

So, REVENUE STAMP is also required at the time of CHEQUE PAYMENT.

Sir

Please explain whether revenue stamp to be affixed on Gross salary or Net salary payment i.e.  Example Gross salary Rs.6000 PT & PF deducted Rs.1500 Net Salary Rs.4500/-

amount above Rs5000

Revenue stamp must be affixed on each payment over the limit of 5000/-.  What ever you are paying through Cash, if it is excess from rs. 5000/- then you have to affix a 1 rupee revenue stamp. In your case you dont need to affix a revenue stamp as you are paying Rs. 4500/-

they r correct.

can anybody tell me about any official website for downloading the INdian stamp Act?

thanks

dear all

what will be the consequences if the stamps are not affixed on the cash voucher exceeding Rs 5000/-

can anybody help me on this...?

Hi.

Can anyone tell me whether the necessity of putting a Re. 1 stamp on payments above Rs. 5000 is also applicable to Union territories or is it applicable to the specific states only.