what would be the liability or penalty to the company if the revenue stamp is not affixed on the vouchers

does all the types of payments above 5000 need to b stamped or some type of trnsactions are exempted 

what is the liability/penalty to the company if the revenue stamp is not affixed

all the transactions above 5000 should be stamped or are their any type of transactions which are exempted  

payment more than 5000 require revenue stamp need to be attached

The law for affixing revenue Stamps is under Indian Stamps Act. The law is passed by the centre, levied by the centre but money collected by the states for their use. For movable properties, immovable properties and other legal documents like affidavits, agreements etc. State has got the powers to fix the rates for collecting the duty. For cash (receipts by cash and cheque), promissory notes and transactions involving instruments for payments (cheques, d/ds, l/cs) and promissory notes or bills of exchange, or even on physical share certificates, the rate can be fixed only by the centre and all states have to follow that rate. For cash receipts the centre has fixed Rs.1/- for receipts over Rs.5000/-. The proceeds go to the state.

One can pay a consolidated amount to dispense the requirement of sticking the stamps on the paper but you have to maintain an account of the value of stamps required to be affixed and when the consolidated payment is fully utilised you have to pay again. In days of physical shares the limited companies were doing this at time of issuing shares against public offer or bonus / reights issues.

revenue stamp is require on payment of more than 5000 Rs in cash.

Dear All

what is the amount which have required affixe revenue stamp.

500/- or 5000/-

please tell me

Shivam Garg

Originally posted by : salma
	under what law can i find some information relating to revenue stamps ?

dear you can find it from stamp duty act book.

Pls tell me , if we are adjusting someone expenses against  Imprest a/c.And the enrty is pass thru journal voucher not in cash account.Although I m taking the imprest a/c holder recieving in the cash payment voucher.

Then in this case whether there is need of revenue stamp to be fix ,if the expenses is above Rs.5000.00
 

under wic sec it has been stated