Share on Email. Share More. Sir, why Affidavits cannot be executed on One Rupee Revenue stamp paper? Whether any special privilege has been granted to non-judicial stamp papers over the One Rupee Revenue stamp?
Sir, please clarify. With regards, Pundalika A. Follow Query. Report Abuse. Guest Expert 03 January 1 rupee revenue stamp receipt is limited to RS. Transaction in crores and very particular in stamp paper value is penny wise. Actually what is the problem. It is true that Banks do obtain supplementary documents like Loan Agreement etc.
Then why a common man like me should be made to pay Rs. Guest Expert 03 January First of all you understand banks doesn't pay you any cash and their payments are only by instruments. Moreover they take sufficient documentations before they disburse the payments. Rajendra K Goyal Expert 03 January So far a stamp paper on affidavit is concerned it varies from state to state. In Haryana it is Rs. The stamp fee can be fixed and changed by state Govt.
With regards, Pundalika Bhat. In Mah state it was Rs. They are mostly used for taking payment receipts only. Rajendra K Goyal Expert 07 January Stamp paper is sold after due entry by Stamp Vender which forms an evidence in future disputes. Message likes : 1 times. Instruments Not Duly Stamped. Examination and impounding of instruments. Special provision as to unstamped receipts. Instruments not duly stamped inadmissible in evidence, etc. Admission of instrument where not to be questioned.
Admission of improperly stamped instruments. Instruments impounded how dealt with. Instruments unduly stamped by accident. Endorsement of instruments on which duty has been paid under section 35, 40 or Prosecution for offence against Stamp-law. Persons paying duty or penalty may recover same in certain cases. Power of Revenue Authority to refund penalty or excess duty in certain cases.
Non-liability for loss of instruments sent under section Power of payer to stamp bills and promissory notes received by him unstamped. Recovery of duties and penalties.
Power of Collector to seal premises. Chapter V. Allowances for Stamps in Certain Cases. Allowance for spoiled stamps. Application for relief under section 49 when to be made. Allowance in case of printed forms no longer required by Corporations. Allowance for misused stamps. Allowance for spoiled or misused stamps how to be made. Allowance for stamps not required for use. Allowance on renewal of certain debentures. Chapter VI. Reference and Revision. Control of, and statement of case to, Chief Revenue Authority.
Power of High Court to call for further particulars as to case stated. Procedure in disposing of case stated. Statement of case by other Courts to High Court. Revision of certain decisions of Courts regarding the sufficiency of stamps. Chapter VII. Criminal Offences and Procedure. Penalty for executing, etc. Penalty for failure to cancel adhesive stamp. Penalty or omission to comply with provisions of section Punishment for omission to comply with the provision of the Act. Penalty for refusal to give receipt, and for devices to evade duty on receipts.
Penalty for not making out policy, or making one not duly stamped. Penalty for not drawing full number of bills or marine policies purporting to be in sets.
Penalty for post-dating bills, and for other devices to defraud the revenue. Penalty for breach of rule relating to sale of stamps and for unauthorised sale. Institution and conduct of prosecutions. Jurisdiction of Magistrates.
Place of trial. Chapter VIII. Supplemental Provisions. Books, etc. Power to make rules relating to sale of stamps. Power to make rules. Publication of rules. Delegation of certain powers.
Savings as to court-fees. Act to be translated and sold cheaply. Schedule I. Stamp-Duty on Instruments. Schedule II. An Act to consolidate and amend the law relating to Stamps. It is hereby enacted as follows Where any person, in consideration of any sum of money paid or to be paid for additional freight or otherwise, agrees to take upon himself any risk attending goods, merchandise or property of any description whatever while on board of any ship or vessel, or engages to indemnify the owner of any such goods, merchandise or property from any risk, loss or damage, such agreement or engagement shall be deemed to be a contract for sea-insurance;.
Provided that no duty shall be chargeable in respect of—. Provided that the duty chargeable on the instrument so determined shall be the highest duty which would be chargeable in respect of any of the said instruments employed. Policies of sea- insurance. Provided that nothing herein contained shall exempt the local authority which has issued such bonds, debentures or other securities from the duty chargeable in respect thereof prior to the twenty-sixth day of March, , when such duty has not already been paid or remitted by order issued by the [50] [Federal Government].
Power of [57] [Government] to exempt certain instruments. Provided that nothing in this section shall prevent any endorsement which is duly stamped or is not chargeable with duty being made upon any instrument for the purpose of transferring any right created or evidenced thereby or of acknowledging the receipt of any money or goods the payment or delivery of which is secured thereby.
Denoting duty. Instruments other than bills and notes executed out of [71] [Pakistan ]. Provided that,—. Provided that nothing in this section shall apply to any such certificate of sale as is mentioned in Article No. Explanation— In the case of a sale of property subject to a mortgage or other encumbrance, any unpaid mortgage-money or money charged, together with the interest if any due on the same, shall be deemed to be part of the consideration for the sale:.
Provided that, where property subject to a mortgage is transferred to the mortgagee, he shall be entitled to deduct from the duty payable on the transfer the amount of any duty already paid in respect of the mortgage. A sells a property to B, the consideration being Rs.
Stamp-duty is payable on Rs. B afterwards buys the house from A. Provided also that, where proceedings have been taken in respect of an instrument under section 31 or 41, the amount certified by the Collector shall be deemed to be the stamp actually used at the date of execution. Administration Bond ,. Agreement relating to Deposit of Title-deeds, Pawn or Pledge],. Bill of Exchange ,. Bond ,. Bottomery Bonds ,. Customs Bond ,. Debenture ,. Further Charge ,.
Indemnity-Bond ,. Mortgage-Deed ,. Promissory-Note ,. Release ,. Respondentia Bond ,. Security Bond of Mortgage-Deed ,. Settlement ,. Provided that—. Provided that nothing in this section shall authorise the Collector to endorse—. Instruments not Duly Stamped. Prosecution for offence against Stamp- law. Provided that no such prosecution shall be instituted in the case of any instrument in respect of which such a penalty has been paid, unless it appears to the Collector that the offence was committed with an intention of evading payment of the proper duty.
If the Court does not include the amount in such order, no further proceedings for the recovery of the amount shall be maintainable. Provided that, in the case of an executed instrument, no legal proceeding has been commenced in which the instrument could or would have been given or offered in evidence and that the instrument is given up to be cancelled.
Explanation — The certificate of the Collector under section 32 that the full duty with which an instrument is chargeable has been paid is an impressed stamp within the meaning of this section.
Provided that, where the person is a licensed vendor of stamps, the Collector may, if he thinks fit, make the repayment of the sum actually paid by the vendor without any such deduction as aforesaid. Provided that the original debenture is produced before the Collector and cancelled by him in such manner as the [] [ Government ] may direct. Explanation— A debenture shall be deemed to be renewed in the same terms within the meaning of this section notwithstanding the following changes Provided that, when any penalty has been paid in respect of any instrument under section 35, section 40 or section 61, the amount of such penalty shall be allowed in reduction of the fine if any subsequently imposed under this section in respect of the same instrument upon the person who paid such penalty.
Penalty for omission to comply with provisions of section Savings as to court- fees. See Section 3. Although the price of this stamp is just Re 1, it is used on a large scale on receipts, mainly involving cash transactions. I needed of a bill for Rs 6, from a doctor. However, the doctor asked me to get a revenue stamp, following which I had to go hunting for it from one shop to another. Senior officials of the postal department said they solved the problem and the shortage of the stamps would not be felt in the near future.
The stamps have to be purchased from the government treasury after a nod from the state government. We have purchased the stamps for about Rs 11 lakh and also sent them to the post offices at the taluka places. However, a number of shopkeepers purchase these stamps from the post office and sell them for a profit. The revenue stamp of Rs 1 is generally sold for double the price in shops.
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