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General Legal Query India · 11 Jun 2026 · 19 views

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

SU Asked by Sundaraiah Kollipara from India

Legal Information

Below is a comprehensive legal analysis based on Indian law for your question.

Based on the information provided, it appears that Mr. A received Rs. 50,000 in cash through a promissory note and then paid Rs. 20,000 to Mr. C through another promissory note. In India, the Negotiable Instruments Act, 1881 governs promissory notes.

1. **Promissory Note Time Limit**: According to Section 4 of the Negotiable Instruments Act, a promissory note is a written instrument in which a person promises to pay a certain sum of money to another person. There is no specific time limit mentioned within the Act regarding the duration within which the amount mentioned in the promissory note must be paid.

2. **Interest Claim**: The terms and conditions relating to the payment of interest on the amount mentioned in the promissory note would depend on the agreement between the parties. Generally, interest is not mandatory unless specified in the promissory note.

3. **Stamp Duty**: The promissory note should be executed on a stamp paper as per the Stamp Act of the respective state in India. The value of the stamp paper would depend on the amount mentioned in the promissory note. For promissory notes, a non-judicial stamp paper is required, and the stamp duty varies from state to state.

4. **PAN and Aadhaar Requirement**: As per recent regulations, quoting of PAN (Permanent Account Number) is mandatory for transactions above a certain threshold. Aadhaar (Unique Identification Number) may also be required for certain financial transactions. The specific requirements would depend on the nature and amount of the transaction as per current regulatory guidelines.

It is advisable to consult with a legal professional or a chartered accountant to ensure compliance with all relevant laws and regulations regarding promissory notes, stamp duty, PAN, and Aadhaar requirements in India.

Disclaimer: AI-generated for educational purposes only. Does not constitute legal advice. Consult a qualified practitioner.