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Section 47: Power of payer to stamp bills and promissory notes received by him unstamped.

The Stamp Act, 1977 (1920 A. D.)Union territory Act of Jammu and Kashmir · Act 40 of 1977

When any bill of exchange [or] promissory note [*] chargeable with the duty of [ten rupees] is presented for payment unstamped, the person to whom it is so presented may affix there to the necessary adhesive stamp, and, upon cancelling the same in manner hereinbefore provided, may pay the sum payable upon such bill or note, [*] and may charge the duty against the person who ought to have paid the same, or deduct it from the sum payable as aforesaid, and such bill, [or] note, [or] note [*] shall, so far as respects the duty, be deemed good and valid :

Provided that nothing herein contained shall relieve any person from any penalty or proceeding to which he may be liable in relation to such bill [or] note [*].

Where this provision sits

ActThe Stamp Act, 1977 (1920 A. D.)
Section47
Marginal notePower of payer to stamp bills and promissory notes received by him unstamped.
JurisdictionUnion territory of Jammu and Kashmir
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • inserted. . ‘‘Cheque’’ or cheque’’ omitted and words in brackets inserted by Act XI of Samvat 1993.
  • substituted, Act XII of 2011. . Substituted for “one rupee” by Act XII of 2011, s. 30. (For earlier amendment see Act III of 2000.

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