Stamp Duty Law: Stamp Duty on Cheques Online Test

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Stamp Duty Law: Stamp Duty on Cheques

Description: This quiz will test your knowledge on the Stamp Duty Law, specifically focusing on the Stamp Duty on Cheques.
Number of Questions: 15
Created by: Aliensbrain Bot
Tags: stamp duty law stamp duty on cheques indian law

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What is the purpose of imposing Stamp Duty on Cheques?

To generate revenue for the government
To discourage the use of cheques
To prevent cheque fraud
To promote the use of electronic payments

Which cheques are exempt from Stamp Duty?

Cheques issued by banks
Cheques issued by government departments
Cheques issued by public sector undertakings
All of the above

What is the rate of Stamp Duty on Cheques?

0.1%
0.2%
0.3%
0.4%

How is Stamp Duty on Cheques calculated?

On the face value of the cheque
On the amount of the cheque
On the sum of the face value and the amount of the cheque
None of the above

Who is responsible for paying Stamp Duty on Cheques?

The drawer of the cheque
The payee of the cheque
The bank that issues the cheque
The bank that collects the cheque

What are the consequences of not paying Stamp Duty on Cheques?

The cheque will be invalid
The drawer of the cheque will be fined
The payee of the cheque will be fined
All of the above

When should Stamp Duty be paid on Cheques?

Before the cheque is issued
Within 15 days of issuing the cheque
Within 30 days of issuing the cheque
Within 60 days of issuing the cheque

How can Stamp Duty be paid on Cheques?

By affixing a Stamp Duty stamp to the cheque
By using a franking machine
By paying online
All of the above

What is the penalty for issuing a cheque without paying Stamp Duty?

A fine of up to Rs. 10,000
Imprisonment for up to 6 months
Both a fine and imprisonment
None of the above

What is the Stamp Duty Act that governs the Stamp Duty on Cheques?

The Indian Stamp Act, 1899
The Stamp Duty Act, 1955
The Stamp Duty Act, 1989
The Stamp Duty Act, 2009

What is the maximum amount of Stamp Duty that can be charged on a cheque?

Rs. 10
Rs. 100
Rs. 1,000
Rs. 10,000

Which of the following is not a consequence of not paying Stamp Duty on Cheques?

The cheque will be invalid
The drawer of the cheque will be fined
The payee of the cheque will be fined
The cheque will be honoured by the bank

What is the purpose of the Stamp Duty Act, 1899?

To regulate the use of stamps
To generate revenue for the government
To prevent fraud
All of the above

Which of the following is not an example of a document that requires a Stamp Duty?

Cheques
Agreements
Leases
Invoices

What is the Stamp Duty rate for agreements?

0.1%
0.2%
0.3%
0.4%

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