Promissory note (pronote) and receipt
The classic pronote with its receipt, for a cash loan.
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How the paper begins
With Dastavo's sample details; the people and places are fictional. The words in blue are the ones you fill in.
PROMISSORY NOTE
On demand, I, Kabir Sharma son of Shri Dev Sharma, aged about 44 years, resident of House No. 7, Basant Vihar, Amarnagar, Tehsil and District Amarnagar, Punjab, promise to pay Gurdev Singh son of Shri Karnail Singh, aged about 48 years, resident of House No. 88, Model Town, Amarnagar, Tehsil and District Amarnagar, Punjab, or order, the sum of ₹1,50,000 (Rupees One Lakh Fifty Thousand only), with interest at 12 per cent a year, for value received.
RECEIPT
Received ₹1,50,000 (Rupees One Lakh Fifty Thousand only) by cash from Gurdev Singh as a loan on the above promissory note.
Date: 12-10-2026
WITNESSES:
What to bring
Papers to bring
- The borrower's identity proof (photocopy; the original to show), and the lender's full name, father's or husband's name and address
- A revenue stamp, to be fixed on the note and signed across by the borrower
- The money, or proof of the payment (the bank transfer record or cheque number), to write how it was paid
- Two witnesses, as is usual, each with an identity proof
Where to go
Signed by the borrower across the revenue stamp, usually before two witnesses, and kept by the lender. It needs no stamp paper, and it is neither registered nor notarised.
Fee
The duty the stamp law fixes for a promissory note is usually paid by fixing a revenue stamp on it, signed across; revenue stamps are sold at post offices and by stamp vendors.
Good to know
- A pronote without the stamp, or with the stamp not signed across, usually cannot be used in court, and this cannot be put right later.
- Lend and repay by bank transfer or cheque: the income-tax law bars taking or repaying a loan in cash above a limit.
- A suit on a pronote payable on demand is usually filed within three years of its date; a part payment or a written acknowledgement before then gives fresh time.
- When the loan is repaid, mark the original as paid and give it back to the borrower.
Papers and fees can change. Check with the office before you go. Guidance only, not yet reviewed by a lawyer.
Stamp paper
A promissory note must carry the stamp the state's stamp law fixes for it, whatever the amount (usually an adhesive revenue stamp, signed across). An unstamped pronote cannot be used in court.