Should we affix Revenue Stamp on receipt issued for Cheque payment?

Question

When we make a payment of Rs.10000 by cheque, we take a receipt on a piece of paper for this cheque payment. Should we affix Revenue Stamp for this receipt and if so, how much?

Answer 1

Yes for any receipt more than Rs.500/- needs acknoiwledgment on revenue stamp of applicable amount.

Answer 2

Any receipt, in whatever form issued, in acknowledgement of a payment of a sum exceeding Rs. 5000 is to be affixed with a revenue stamp of Re.1. In case of payment made by account payee cheque, as the transaction passes through a bank's records, the payer will not usually ask for a receipt.

Answer 3

Now, usage of revenue stamp for receipt/money transaction has been done away with.

No need to fix the stamp.

Answer 4

industry news-http://asianinmedia.org/

Answer 5

as per rule yes ,read the detail from the link

http://psebindia.blogspot.com/2007/09/re...

Answer 6

we have to affix revenue stamp on cash payment exceeding Rs. 500.

Answer 7

This is required but people normally ignore it.