It is a tax of Re.1 in the form of revenue stamp which should be affixed on receipt for any money or other property, the amount or value of which exceeds Rs.5000.00.
2006-10-11 23:37:59 · 2 answers · asked by kks 1 in Business & Finance ➔ Taxes ➔ India
Revenue stamp need be affixed only on receipts for amounts over Rs.5,000
Special Correspondent
THIRUVANANTHAPRUAM: The revenue stamp need be affixed only on receipts for amounts over Rs. 5,000. The Inspector General of Registration said here today that this reform had been brought into effect through an amendment to the Indian Stamp Paper Act of 1899 through notification number 23/04. The State Government would on the basis of it issue GO(P) 256/05 to give effect to Rule 163 (S) in Volume (1) of the Kerala Treasurey Code from June 2, 2005. With that, transactions up to Rs 5,000 made from June 2 onwards would not require revenue stamp.
According to the earlier provision, revenue stamp worth Re. 1 had to be affixed for all transactions of over Rs 500.
Note: I don't know whether it is applicable to whole of India or to a respective state.
2006-10-12 00:22:51 · answer #1 · answered by Andy 3 · 0⤊ 0⤋
check with any sub register office.
2006-10-12 06:50:38 · answer #2 · answered by Kutty_21 4 · 0⤊ 0⤋