Question: What Is The Validity Of Non Judicial Stamp Paper?

What is importance of stamp paper?

Stamped paper has been widely used around the world to collect taxes on documents requiring stamping, such as leases, agreements, receipts, court documents and many others..

What is the difference between judicial and non judicial stamp?

They are of two kinds: Judicial, used for legal and court work; non-judicial, used for registration of documents, insurance policies etc. Judicial stamp paper: … The judicial stamp papers are used for payment of court fee in the court to avoid cash transactions. The case may not be admitted without payment of court fees.

What is the validity of 100 RS stamp paper?

Section 54 of the Act provides that a person possessing a stamp paper for which he has no immediate use can seek refund of the value by surrendering it to the collector within six months of purchasing it. This validity is only for the purpose of seeking refund of unused stamp paper and not for using it.

What is the minimum value of non judicial stamp paper?

Rs. 100Non-Judicial Stamp Paper: Non-judicial stamp papers are generally used for the execution of documents like sale deed, power of attorney, affidavits, rent agreement, transfer of property like building, mortgage, land, or other relevant agreements. The value of non-judicial stamp papers at present of Rs. 100, Rs.

What is the validity of stamp paper in Maharashtra?

So we can said that as Per Provisions of Indian Stamp Act, 1839 and as per the Supreme Court Judgment, there no validity of Stamp Paper on Paper, but in actual the Validity of Stamp Paper is Six Months Practically off paper especially in the State of Gujarat and Maharashtra.

Why are rental agreements for 11 months?

Most rent agreements are signed for 11 months so that they can avoid stamp duty and other charges. According to the Registration Act, 1908, the registration of a lease agreement is mandatory if the leasing period is more than 12 months. … The stamp paper can be in the name of the tenant or the landlord.

Can we write on both sides of stamp paper?

Yes you can write on both sides of a non judicial stamp paper. … non judicial adhesive stamps are affixed on a document to make it a valid non judicial stamp paper. Said tickets hardly consume any space and rear side of the paper is blank, hence one can continue writing if the back side.

How is stamp paper value calculated?

Consideration value is the total amount involved in any purchase/sale transaction agreed between two parties. For example, if the agreement value of your flat is Rs 60 lakh and the circle rate is Rs 50 lakh, then, the stamp duty would be computed on the higher value, i.e., Rs 60 lakh.

Does affidavit need stamp paper?

An affidavit to be valid has to be executed on Stamp paper or duly stamped otherwise and has to be notarised by a Notary public or commissioner of oaths. The affidavit is required to be executed on the stamp paper and has to be notarised by a Notary public in India.

What should be the value of stamp paper for sale agreement?

100 RsThe agreement is valid in 100 Rs stamp paper and even if not made on stamp paper it is valid. In fact even a oral agreement to sell is enforceable in law. You need to get a letter from the seller’s mortgage bank.

How long is an agreement valid?

three yearssend the legal notice and file a civil suit for recovery of money or a specific performance suit to honour the contract. Sale Agreement even not registered is enforceable in Law, and shortage of stamp charges can be paid into with the courts order. Agreement is valid for three years from the date mentioned to execute.

What is the meaning of non judicial stamp paper?

Stamp papers which would be used in courts like for payment of court fees is Judicial stamp paper. Stamp papers which would be used for execution of documents are called non judicial stamp papers. Something which has relation to the administration of justice, judicial papers/stamps are used.

Is 20 RS stamp paper valid for rent agreement?

Customarily, a stamp paper of Rs 20 – Rs 100 can be utilized for a rent agreement of an 11-month duration.

Is franking and stamp paper same?

The main difference between the two is that stamp duty is a type of tax that indicate the documents are official and legal while franking is a process that indicates any charges or taxes, such as the stamp duty on those documents has been paid. … The stamp duty payment is mandatory for the legal claim to become valid.

Can stamp paper be refunded?

Section 54 merely provides that a person possessing a stamp paper for which he has no immediate use (which is not spoiled or rendered unfit or useless), can seek refund of the value thereof by surrendering such stamp paper to the Collector provided it was purchased within the period of six months next preceding the …

Does stamp paper have validity?

The only restriction for a stamp paper is prescribed under section 54 of the Indian Stamp Act. … Thus, as can be deduced from above, a stamp paper does not have any expiration date and can be used for execution of a document at any time.

Is 10 RS stamp paper valid for rent agreement?

Agreement on rupees ten is not valid. Rupees ten stamp paper is for affidavits and declarations only. However validity of the agreement does not depend upon stamp paper , it totally depends upon the tenure mentioned in the agreement.

Is 100 RS stamp paper valid for rent agreement?

For rental agreements made for a tenancy period of 11 months or less, a stamp paper of Rs 100 or Rs 200 can be utilized. Along with this, a stamp duty i.e. equals the lesser of 1% of the total rent plus the deposit paid annually or Rs 500 is also payable.

What is the use of 20 RS stamp paper?

Stamp Paper of Rs. 10 used for Affidavit, Declaration, Undertaking etc. Stamp Paper of Rs. 20 for Special Power of Attorney.

Does affidavit expire?

Time. A notarized document like an affidavit is valid for its contents up to infinity. … Therefore, these affidavits will not expire because there is no expiry date for the affidavits that has signature properly and publishes with accurate evidence. There is no period of validity to an affidavit.

How long is agreement of sale valid?

three yearsThe agreement for sale is valid for three years. If there is a negative clause in the agreement, say, the buyer has to register the property within three months’, then, the limitation is extended by such period.