Agreement On 10 Rupees Stamp Paper

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  • 8 Aprile 2021

In Thiruvengada Pillai Vs. Navaneethammal – Anr. (see here), it has been decided by the Supreme Court that a stamp paper, even if it is more than six months old, is valid for its use. Section 54 bars only, refund after six months of purchase, but it does not limit the use of this old stamp paper for an agreement. Thus, nothing prevents you from using it even after years of purchase. The law does not have a mandatory statute of limitations for its validity. 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. If you have an old stamp paper, you can do one of the following steps: This article was written by Harsh Jain. With grading to LLB, and LLM, Harsh is clean, JRF qualified. Harsh has successfully approved Rajasthan Judicial Services, Hands Examination, Gujarat Judicial Services pre, SBI Specialist Officer Scale II online review and many other competition events.

Many of its students are posted as ADJs, JMs, MMs, teachers, APP, etc. In addition, Harsh is on the Entrepreneurship Administration and Business Law degree from NUJS, Kolkata. This article deals with the validity of the agreements on the old stamp paper. 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. Within the six-month period covered in Section 54, it is simply stated that a person in possession of a stamp paper for which he had no direct use and for which he was not used directly is not corrupted, unfit or unnecessary, that he can be handed over to the collector and refunded after deduction of 10 paise per rupee. Section 54 does not require a person to use a stamp paper within six months of purchase. As a result, the reimbursement of an old stamp paper cannot be made after six months, but there are no restrictions on its use. You can use this old stamp paper for a new chord.

But, you should keep in mind that, in accordance with section 29 Indian Stamp Act, stamp seller makes an entry in the registration and on the stamp paper with respect to all the details of the person who sold the stamp and the purpose for which it was purchased. Such stamp paper can only be used for this purpose. For example, if stamp paper is purchased for the deposit of the sale, it cannot be used for any purpose other than the execution of a deed of sale. In accordance with section 64 of the Indian Stamp Act, if you do this to mislead the government, or do an act that is calculated to deprive the government of any obligation or sanction under the Indian Stamp Act or any other applicable law or law in India, you may be punished for up to five thousand rupees. Similar provisions exist in different state laws to sanction such cases. For example, according to Section 75 Rajasthan Stamp Act, for similar types of activities, you can be imprisoned for up to three years or may also be punished with a fine of up to twenty-five thousand rupees.