Under the Indian Stamp Act, 1899 as applicable in Himachal Pradesh, what is the maximum fine for…
Section 68(a) covers fraudulent drawing, making or issuing of a post-dated bill of exchange or promissory note. The punishment prescribed in section 68 is a fine of up to…
Choose your answer
Under the Indian Stamp Act, 1899 as applicable in Himachal Pradesh, what is the maximum fine for knowingly issuing a post-dated promissory note with intent to defraud the Government of stamp duty?
Answer and explanation
Correct answer B
Section 68(a) covers fraudulent drawing, making or issuing of a post-dated bill of exchange or promissory note. The punishment prescribed in section 68 is a fine of up to ₹1,000.
Option feedback
Option A
Section 68 sets the maximum at ₹1,000.
Option B
Section 68 prescribes a fine of up to ₹1,000 for the stated conduct.
Option C
Section 68 sets the maximum at ₹1,000, so ₹2,000 exceeds the ceiling.
Option D
Section 68 sets the maximum at ₹1,000, so ₹3,000 exceeds the ceiling.
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