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VALIDITY PERIOD OF NON JUDICIAL STAMP PAPERS
3 years ago
WHETHER THERE IS ANY VALIDITY PERIOD FOR ALREADY PURCHASED NON JUDICIAL STAMP PAPER AS ON DATE STAMP ACT. FOR ENTER INTO ANY AGREEMENT BY THE BANKERS WHETHER LIMITATION PERIOD FOR THE STAMP PAPER PURCHASED ALREADY. PLEASE CLARIFY.
A.Hi,
There is no impediment for a Stamp paper purchased more than six months prior to the proposed date of execution, being used for a document.
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 date on which it was so surrendered.
There is no impediment for a Stamp paper purchased more than six months prior to the proposed date of execution, being used for a document.
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 date on which it was so surrendered.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
The stipulation of the period of six months prescribed in section 54 is only for the purpose of seeking refund of the value of the unused Stamp paper, and not for use of the Stamp paper. Section 54 does not require the person who has purchased a Stamp paper, to use it within six months. Therefore, there is no impediment for a Stamp paper purchased more than six months prior to the proposed date of execution, being used for a document.
The stipulation of the period of six months prescribed in section 54 is only for the purpose of seeking refund of the value of the unused Stamp paper, and not for use of the Stamp paper. Section 54 does not require the person who has purchased a Stamp paper, to use it within six months. Therefore, there is no impediment for a Stamp paper purchased more than six months prior to the proposed date of execution, being used for a document.
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