Hello Sir, Bangalore revenue stamp is banned, do we still need to stik revenue stamp in the form? Regards.
From India, Bangalore
From India, Bangalore
Yes, u can stick revenue stamp in the form... thy was only a shortage at that moment. Regards,
From India, Hyderabad
7From India, Hyderabad
Dear All,
As per Indian Stamp Act 1899, certain receipts should have to be affixed with stamp. Section 2(23) 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].
Section 2(23) runs as under:
2(23) “Receipt” includes any note, memorandum or writing-
(a) whereby any money, or any bill of exchange, cheque or promissory note is acknowledged to have been received, or
(b) whereby any other movable property is acknowledged to have been received in satisfaction of a debt, or
(c) whereby any debt or demand, or any part of a debt or demand, is acknowledged to have been satisfied or discharged, or
(d) which signifies or imports any such acknowledgment;
and whether the same is or is not signed with the name of any person “
Indian Stamp Act 1899 is a Central Law and accordingly to above section of this Law, any receipt gets a legal sanctity when it fulfills the provision of law passed to regulate such transactions.
In 2003 there was news saying Karnataka to do away with revenue stamps since the government has decided to ban revenue stamps. But I have not come across any notification by the Karnataka Government.
My questions to experts:
1. What do you mean ban?
2. Can any State Government effect such kind of ban?
From India, Mumbai
As per Indian Stamp Act 1899, certain receipts should have to be affixed with stamp. Section 2(23) 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].
Section 2(23) runs as under:
2(23) “Receipt” includes any note, memorandum or writing-
(a) whereby any money, or any bill of exchange, cheque or promissory note is acknowledged to have been received, or
(b) whereby any other movable property is acknowledged to have been received in satisfaction of a debt, or
(c) whereby any debt or demand, or any part of a debt or demand, is acknowledged to have been satisfied or discharged, or
(d) which signifies or imports any such acknowledgment;
and whether the same is or is not signed with the name of any person “
Indian Stamp Act 1899 is a Central Law and accordingly to above section of this Law, any receipt gets a legal sanctity when it fulfills the provision of law passed to regulate such transactions.
In 2003 there was news saying Karnataka to do away with revenue stamps since the government has decided to ban revenue stamps. But I have not come across any notification by the Karnataka Government.
My questions to experts:
1. What do you mean ban?
2. Can any State Government effect such kind of ban?
From India, Mumbai
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