Agreement Paper Value
If stamps of this value are not available, you can also bring resources to francize it. 2. Oral consent is also valid if its existence is proven. Before the use of an affidavit, documents such as the power of attorney must be notarized by the executive judge or by a government-appointed notary. Notarized stamps of R. 5/- must also be used. This value may change from time to time. At the time of the execution of transactions between private and foreign companies, foreign postage stamps are required. These value marks — Rs.1 | Rs.2 | Rs.5 | Rs.10 | Rs.50 and Rs.100 are available. According to the Business Standard newspaper, India`s finance ministry plans to amend a centuries-old Indian stamp law, in which stamp papers will only be valid for one year.
The objective of such a change is to put an end to the misuse of stamp paper by preventing people from purchasing backdated papers in order to place their rights on the property in the future, even though no agreement was reached at that time. In addition, electronic stamp duty payment is proposed under the new law to verify the same issue. As a general rule, court stamp papers are used for legal purposes. For example, it can be used for the continuation of legal proceedings or the continuation of legal proceedings. These stamp papers are also known as penalty documents, as they are often used to avoid cash transactions with the court. A case cannot be admitted by the court without the payment of court costs. That is what makes judicial stamp paper important. in this agreement, we mentioned that we will terminate this agreement after 3 months, if the seller does not return my 15 lakhs, can I do on him? You can use this stamp paper to execute an agreement that dates from the date indicated in the buffer paper, but which was executed before the registration date. Such an old agreement can be executed on such stamp paper.
But if you do it just to deceive the government or to deprive it of rights and penalties under the Indian stamp or registration law or any other law in India, then you can be punished. When paying stamp duty, be sure to look for the amount you need to pay for a particular transaction. Avoid buying a non-judicial paper or stamp or applying for an electronic stamp or deductible without knowing the taxes collected, otherwise you can pay more or less and be liable for a penalty. As has already been said, agreements that are placed on old stamp paper are valid. In Thiruvengada Pillai vs. Navaneethammal — Anr. (see here), it was decided by the Honourable Supreme Court that the Indian Stamp Act does not impose an expiration date for the use of stamp paper.