How many revenue stamps are there in India?
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How many revenue stamps are there in India?
At least 300 Indian princely states issued their own revenue stamps. Most of these stopped having separate revenues as they were dissolved after independence, however some states such as Jaipur and Sikkim continued to do so until the 1960s as they became states of independent India.
Is it necessary to put revenue stamp on rent receipt?
A revenue stamp is required to be affixed on rent receipts if cash payment is more than Rs. 5000 per receipt. If rent is paid through cheque then revenue stamp is not required.
Is revenue stamp still valid?
While revenue stamps often resemble postage stamps, they are not normally intended for use on mail and therefore do not receive a postal cancellation. Some countries such as Great Britain have issued stamps valid for both postage and revenue, but this practice is now rare.
What is the minimum amount for revenue stamp?
Rs.5,000/-
Affixing of revenue stamp is necessary only if the amount on any of the receipt is for more than Rs. 5,000/-.
What is purpose of revenue stamp?
Under section 30, revenue stamps are used for payments that exceed a minimum amount of ₹ 5000 and are used as proof that the payment has been made to the person signing the cash voucher. Also, under section 65, the payee will be punished with a fine of ₹ 100 if they refuse to give a receipt with a revenue stamp.
On which amount revenue stamp is required?
Rs 5,000
In view of the amendment of Schedule I, to the Indian Stamp Act 1899, the one-rupee stamp is required to be affixed on any receipt, the amount or value of which exceeds Rs 5,000. This amendment has come w.e.f. 10.09. 04.
Where can I use revenue stamp?
Is revenue stamp valid?
If the cash payment is greater than Rs 5,000 per receipt, a revenue stamp is required. If your yearly rent payment exceeds Rs 1 lakh or Rs 8,300 per month, you must provide the landlord’s PAN.
What is limit for revenue stamp?
Rs 5,000 per receipt
If the cash payment is greater than Rs 5,000 per receipt, a revenue stamp is required. If your yearly rent payment exceeds Rs 1 lakh or Rs 8,300 per month, you must provide the landlord’s PAN.
Are revenue stamps still used?
Revenue stamps were printed in many varieties and denominations and are widely sought after by collectors and historians. Revenue stamps were finally discontinued on December 31, 1967.
How can I get revenue stamp?
Revenue stamps can be purchased from the local post offices. The cost of a revenue stamp is Re 1 for each stamp. Nowadays local shops and some online shopping portals also keep revenue stamps and sell them at a higher price than the post offices.
Is revenue stamp mandatory in India?
How much does a revenue stamp cost?
The cost of a revenue stamp is Re 1 for each stamp. Nowadays local shops and some online shopping portals also keep revenue stamps and sell them at a higher price than the post offices. It is advisable to buy it from the post office to avoid chances of getting fake stamps.
