Is affixing revenue stamp necessary?

Affixing of revenue stamp is necessary only if the amount on any of the receipt is for more than Rs. 5,000/-.

How do I close a fixed deposit prematurely?

Steps to Close an FD Offline by Visiting Branch (Premature)

1. Step 1: Visit the bank branch and get a form for premature withdrawal.
2. Step 2: Fill the form with necessary details such as name, bank account details, and FD number among others.
3. Step 3: Submit the document with the bank and they will process your request.

Why is revenue stamp required?

Revenue Stamps are used to collect fees or revenue for maintaining courts. There was a law called e Indian Stamp Act 1899. 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.

What is purpose of revenue stamp?

A revenue stamp, tax stamp, duty stamp or fiscal stamp is a (usually) adhesive label used to collect taxes or fees on documents, tobacco, alcoholic drinks, drugs and medicines, playing cards, hunting licenses, firearm registration, and many other things.

Is there any penalty for breaking FD in HDFC?

The base rate is the rate applicable to deposits of less than Rs. For such premature withdrawals, including sweep-ins and partial withdrawals, the Bank will levy a penalty of 1\%, on the applicable rate. However, penalty for premature withdrawal will not be applicable for FDs booked for a tenor of 7-14 days.

Can we break FD before maturity in post office?

In case of Post office’s Time Deposit Account premature withdrawal is possible but only after six months from the date of deposit. You will get only amount invested at time of your withdrawal. Interest earned on that amount can only be get after full maturity amount.

What is the difference between revenue stamp and postal stamp?

Postage stamps basically define the amount paid by the sender to the postage department to send a given letter or a parcel, while revenue stamps are used for legal purpose and can be considered as a legal receipt for taxes or government fees.

When revenue stamp is required for cash payment?

Also, affixing revenue stamp is mandatory if the cash payment is more than Rs 5,000. You need not affix revenue stamp if the rent has been paid in cheque.