New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Under Section 10 of the Indian Stamp Act, the rules

    may regulate various aspects of stamp usage. Which of the following is not one of the aspects that may be regulated?
    A The color of the ink used to complete the instrument Correct Answer Incorrect Answer
    B The description of stamps that may be used for each kind of instrument Correct Answer Incorrect Answer
    C The size of the paper on which bills of exchange or promissory notes are written Correct Answer Incorrect Answer
    D The number of stamps that may be used on instruments stamped with impressed stamps Correct Answer Incorrect Answer
    E The specific type of stamp applicable to certain types of transactions Correct Answer Incorrect Answer

    Solution

    Explanation: Section 10.   Duties how to be paid: (2) The rules made under sub-section (1) may, among other matters, regulate--(a) in the case of each kind of instrument--the description of stamps which may be used;(b) in the case of instruments stamped with impressed stamps--the number of stamps which may be used;(c) in the case of bills of exchange or promissory notes the size of the paper on which they are written.

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