A person (Mr.A) rs:50,000/- cash received on Promissory note amount after same person name Mr.A cash paid to another person name Mr.c rs:20,000/- cash through on Promissory note Question: Cash mode received and payment on Promissory note amount how many days limit and how many interest claim and rs:10/- non judiciary stamp paper compulsory pan and aadhar compulsory

In this scenario, if Mr. A received Rs. 50,000 in cash on a promissory note and then made a payment of Rs. 20,000 in cash to Mr. C through another promissory note, the following legal considerations apply:

1. Promissory Note: A promissory note is a legal instrument in writing containing an unconditional undertaking signed by the maker to pay a certain sum of money to the payee. It usually specifies the amount, the time of payment, the parties involved, and carries legal significance.

2. Limitation Period: The limitation period for enforcing a promissory note in India is typically three years from the date of the note. Any legal action to recover the amount stated in the promissory note needs to be initiated within this period.

3. Interest: The rate of interest that can be claimed on overdue payment in a promissory note can be as per the terms specified in the note itself. In the absence of any specific mention, it can be claimed at the rate prescribed under the Interest Act, 1978, or other applicable laws.

4. Stamp Duty: For a promissory note, stamp duty is applicable in India as per the Stamp Act of the respective state. The stamp duty amount may vary based on the amount mentioned in the note. It is advisable to use a non-judicial stamp paper for creating a promissory note.

5. Identification Documents: While it is not mandatory to provide the PAN (Permanent Account Number) and Aadhaar details in a promissory note, it can be helpful for verification and documentation purposes. However, it is recommended to exercise caution with the disclosure of personal identification information.

It is essential to ensure compliance with relevant legal provisions and requirements while drafting, executing, and enforcing promissory notes to avoid any legal issues or disputes in the future. Consulting with a legal professional specializing in banking and contract laws can provide further guidance tailored to the specific circumstances of the transactions.