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No, the revenue stamp is required only when the rent is paid in cash and the rent amount exceeds Rs 5,000. For example, if the rent is paid through cheque or online transfer, then, there is no need to affix the revenue stamp.
The Indian Stamp Act 1899, Section 2(23), mandates the affixing of a stamp revenue on any receipt above Rs 5000 (formerly Rs 500) necessary.
If the monthly rent paid in cash exceeds Rs 5,000, then, it is mandatory to affix a revenue stamp on the rent receipt and get it duly signed by the landlord. If the monthly rent is below Rs 5,000, then, there is no need for a revenue stamp even if the rent is paid in cash.
The following are the details which are required in the rent receipt:Tenant Name (If you are the tenant, fill in your name)Landlord Name.Amount of Payment.Date of Payment.Rental Period.House Address (Rented Property)Signature of Landlord or Manager.
A rent receipt is a proof of transaction of rent paid by a tenant to his/her landlord. Rent receipt(document) is provided by the landlord upon receiving the rent from rentee and his signatures are placed on the it.
You don't even need the revenue stamp if you are payment of rent is made via cheque. The receipt generated by ClearTax is sufficient. Revenue stamp is only needed if payment made in cash per receipt is more than Rs 5,000. The service has become very popular in a very short time.
If the monthly rent paid in cash exceeds Rs 5,000, then, it is mandatory to affix a revenue stamp on the rent receipt and get it duly signed by the landlord. If the monthly rent is below Rs 5,000, then, there is no need for a revenue stamp even if the rent is paid in cash.
So, for each rent receipt to be valid, the following mandatory elements must be in to a rent receipt:Tenant Name (If you are the tenant, fill in your name)Landlord Name.Amount of Payment.Date of Payment.Rental Period.House Address (Rented Property)Signature of Landlord or Manager.16-Mar-2022
There is no requirement for a revenue stamp on rent receipt if the rent was paid online or by cheque. When paying rent in cash, a rent receipt with a revenue stamp serves as documentary documentation of the transaction.
Components of a valid rent receiptName of the landlord. Address of the property. Rent amount. Rent period. Medium of rent payment (cash, cheque, online payment)