What is the significance of revenue stamp

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The American Revenue Association serves 'fiscal philatelists' and was founded in The British Library Philatelic Collections has a wide range of stamps for collecting tax. There are a number of revenue stamp catalogues, giving collectors comprehensive listings and valuations of stamps. In Britain, the Barefoot catalogues are one of the most well known series of revenues catalogues.

Get even more stamp collecting advice and inspiration with our monthly newsletters straight to your inbox. Stamp Guide Philippines stamps encourage vaccination 23 October Stamp Guide Folklore franking 22 October Points: 3. For every legally permitted transaction a certain amount of revenue is needed to be given to the government. Stamping of receipts or main documents evidencing giving and taking of money also need such revenue and the revenue stamp is affixed in proof of that.

A properly stamped receipt or debt document or note gets a prima facie priority as an acceptable legal proof over a plain paper receipt.

In sale transactions deeds, payment of consideration is established by annexing to the deed a revenue stamp affixed receipt only of advance payment s or final payments.

In case of a dispute arising, this stamped receipt can be produced as the prime proof of the money being given and received. In sch cases this plays a vital role. Those which are not properly stamped can be rejected also depending on many other factors. The instrument which is not duly stamped is inadmissible as an evidence.

By CA S. Note:Revenue stamp shown in the picture above is Just of 15 paisa where as per rule above one rupee stamp is required. Flipkart mega jackpot Play game to win mega jackpot. Get new posts by email:. Simple Tax India dot net.