Is it mandatory to affix the Re 1/- revenue stamp if the payment has been done by NEFT. Is there a defined way to deface the said revenue stamp; does it necessarily have to be signed by the person receiving the payment, or it can simply be crossed across its face or stamped with company stamp to deface it. Which rule governs the use of this stamp.
From India, Pune
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5From India, Pune
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I am not sure about the correct answer for question no. 1. However, I presume that if any advance receipt is required before the transfer of the amount by NEFT, the receiver can be asked to affix the stamp on it.
Section 12 of the Indian Stamps Act, 1899
Section 12 prescribes the procedure of cancellation of adhesive stamps as follows:
"12. Cancellation of adhesive stamps - (1)(a) whoever affixes an adhesive stamp to any instrument chargeable with duty which has been executed by any person, when affixing such stamp, shall cancel the same so that it cannot be used again; and (b) whoever executes any instrument on any paper bearing an adhesive stamp shall at the time of execution, unless such stamp has been already canceled in the manner aforesaid, cancel the same so that it cannot be used again. (2) Any instrument bearing an adhesive stamp which has not been canceled so that it cannot be used again shall, so far as the stamp is concerned, be deemed to be unstamped. (3) The person required by ss(1) to cancel an adhesive stamp may cancel it by writing on or across the stamp his name or initials or the name or initials of his firm with the true date of his so writing, or in any other effectual manner."
Therefore, any one of the manners mentioned in the post can be adopted.
From India, Salem
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Section 12 of the Indian Stamps Act, 1899
Section 12 prescribes the procedure of cancellation of adhesive stamps as follows:
"12. Cancellation of adhesive stamps - (1)(a) whoever affixes an adhesive stamp to any instrument chargeable with duty which has been executed by any person, when affixing such stamp, shall cancel the same so that it cannot be used again; and (b) whoever executes any instrument on any paper bearing an adhesive stamp shall at the time of execution, unless such stamp has been already canceled in the manner aforesaid, cancel the same so that it cannot be used again. (2) Any instrument bearing an adhesive stamp which has not been canceled so that it cannot be used again shall, so far as the stamp is concerned, be deemed to be unstamped. (3) The person required by ss(1) to cancel an adhesive stamp may cancel it by writing on or across the stamp his name or initials or the name or initials of his firm with the true date of his so writing, or in any other effectual manner."
Therefore, any one of the manners mentioned in the post can be adopted.
From India, Salem
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Discontinuation Of Revenue Stamps For EPFO Claims Under NEFT.pdf
Amendment to Payment of Bonus Act 2015.jpg