Financial Daily from THE HINDU group of publications
Sunday, May 12, 2002
Columns - Know your laws
Dealing with unfit stamps
THIS week too, the column will look at some more aspects related to non-judicial stamp papers.
Is it necessary that name of the purchaser alone should be written on the stamp paper?
In Tamil Nadu, the stamp paper when purchased should be either in the name of seller or purchaser; mortgagor or mortgagee; lessor or lessee; donor or donee, and so on.
Can any document be ante dated?
No, it is an offence.
How is an ante dated document detected?
A registering officer shall compare the date of execution of the document given in the document with the date of purchase of stamp papers to ensure that ante dated documents are not admitted to Registration.
What is the position there is variance in the date of execution and purchase of stamp papers in one sheet only?
When a document consisting of two or more stamp papers purchased on different dates and date of execution is found prior to the date of purchase of any one of the stamp papers the document shall be treated as antedated.
What happens to stamps that are unfit or useless?
Section 54 of the Stamp Act deals with refund of money for stamps spoiled or rendered unfit. The purchaser can apply for refund enclosing the stamps. The superintendent of stamps will refund the money deducting 10 per cent of the value. The following stipulations have to be satisfied:
However, if non-judicial stamp papers purchased long back are used, there is a possibility of the genuineness of the document's execution being questioned.
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