In accordance with Section 54 of the Indian Stamp Act, if you do not have immediate use of stamp paper, you can deposit it with the collector within six months of the date of purchase and withdraw your money in refund after deduction of 10 paise per cane. 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. It is relevant to explain that the buffer paper remains valid until it is used or until its amount/price has been recovered from the turnover. The Stamps Act of 1899 (the « Law ») does not impose an expiration date for the use of the stamp. However, section 54 of the Act provides that a person can claim a refund of the value of the unutilized stamp paper by handing it over to the collector, provided it is acquired within six months. Under the Indian Contracts Act, Section 2 (e) « Any promise and series of promises that constitute mutual consideration is an agreement. » If such a stamp is not corrupted or rendered unfit or unnecessary and you do not need it immediately, you can refund it to the collector within six months of purchase. In accordance with the provisions of Section 54 Indian Stamp Act, he will reimburse you after withdrawing 10 paises per yard. Across the state, the transaction of 5,000 or more brands of sales is signed and the document must be executed. The Rs. 1 turnover stamp is available.
It is therefore mandatory to use buffer paper for the development of the enforceable document; Postage stamps of a particular value are used in accordance with the guidelines of the Stamps Act. An authorized signatory is an official or representative with the authority to compel the authorisation organization to enter into a binding agreement.