Quick Answer: Why It Is Called Non Judicial Stamp Paper?

What does stamp paper mean?

Stamped paper is an often-foolscap piece of paper which bears a pre-printed revenue stamp.

Stamped papers are not a form of postal stationery..

Why is stamp paper required?

To execute the Sale Deed it has to be on a stamp paper. Such a stamp duty acts as transaction taxation and generates revenue for the government. Generally, a physical stamp is required to be part of the document to assert its legal validity. The stamp duty payment is mandatory for the legal claim to become valid.

Can I return stamp paper?

Return of unused stamp papers or damaged stamp papers: can be returned and a refund can be claimed as per provisions of S. 54 of the Stamps Act, 1899. The provision provides circumstances in which a refund can be claimed and limitation for the same.

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.

What is the use of 50 RS stamp paper?

Originally Answered: what is the use of Rs. 50 non judicial stamp paper? The Stamp Act prescribes the value of the stamp to be affixed of engrossed for specific purpose, else it will be treated undervalued, can not be used as evidence before law unless party seek use it pay the deficient stamp duty with penalty.

Is stamp duty and stamp paper same?

In short, its objective is to determine everything is true and genuine on the document. Stamp duty is a legal tax payable in full and acts as an evidence for any financial transaction such as sale or purchase of a property. Stamp paper must be purchased in the state where the document is executed.

Is Rs 100 paper stamp necessary?

Agreements made on white paper are valid. so an agreement made on 100 rupees stamp paper can surely be valid if it fulfills all other conditions under the law and as per the law. But, if the agreement requires to be stamped and registered then it cannot be used as an evidence of proof before a Court of law.

Can a non judicial stamp paper be purchased in the name of lawyer?

You can refer to advocates act, vakalt act and civil rules of practice. every non judicial stamp paper bears name of the holder in its back side. … advocate cannot buy stamp paper in his own name in behalf of his client. There is no section in any provision of law which empowers either a notary or advocate to do this.

Is MOU required on stamp paper?

the rule is rule it will not change for you, no it is legal stamp paper signed by both of you. yes you both need two adult witness each to sign the mou. … The private and personal M.o.U. needs to be made on a notarized stamp paper.

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.

How long is stamp paper valid?

The Court concluded by stating that there is no impediment in using a stamp paper which may have been purchased more than six months prior to its use in a document. 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.

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.

What is the value of 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. 500, Rs.

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.

Which stamp paper is required for rent agreement?

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