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E-stamp paper
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E-stamp paper
With India joining the race of going digital, this very domain also has joined the race. E-stamping is a revolutionised concept, E-stamping is a computer based stamp duty collection system with an object to tackle counterfeiting and promotes hassle free payment of tax. It hereby offers a secure electronic method to stamp documents and prevents leakage of government revenue. This kind of e-stamping system enables the storage of information in a protected electronic form making payment easy and secured. AcreOk helps you with easy E-stamp services, no matter where you are sitting, just adhere to the law at your fingertips.
WHEN IS E-STAMP REQUIRED?
Stamp duty is payable before the execution of the deed or on the day of execution of the deed or on the next working day of executing such a document/instrument. E-stamps can be used in regard to all instruments on which stamp duty is payable as prescribed. Such instruments include all documents of transfer such as sale agreement, agreement to sell, mortgage deed, conveyance deed, exchange deed, gift deed, power of attorney, agreement of tenancy, deed of partition, lease deeds, leave and license agreement, and does not include Will. In the case of Exchange deed, both the parties are required to pay stamp duty equally.
ADVANTAGES OF E-STAMPING
The first advantage is it provides multi-level security, as they are generated in a few minutes and cannot be easily tampered with.
An e-stamp certificate once issued cannot be copied. The dangers of duplicating through optical watermarking get eliminated.
The greatest advantage of using e-stamps service is that its authenticity can be verified online. Each e-stamp paper comes with a unique identification number (UIN) which can be used to verify its authenticity on the government authorised e-stamping website.
WHY E-STAMP AND NOT NON-JUDICIAL STAMPS OR FRANKING
E-stamp is a convenient method as discussed and it is less time-consuming unlike payment of government taxes by buying a Non-judicial Stamper paper from a licenced vendor which becomes an important part of documentation and lesser value of stamps are not available but e-stamp even works with smaller values of stamps like Rs.10 or Rs.20. Franking again is another method by way of going to authorised banks and getting the tax paid through franking machines, but the problem is they may not be available everywhere. Hence, e-stamping is suggestively the place to go.
AcreOK provides you help in this simple and easy service. Just by entering few details about yourself, description of stamp and value of stamp, get the documents delivered to your place. AcreOK believes in moving forth to promote easy methods to its clients and make lives convenient through services we provide.
Frequently Asked Questions
Buying, selling or even leasing your property or creating deeds require you to pay a stamp duty on property to the central or state authorities along with the undertakings on the affidavits.
Such payments to the government are done through the purchase of a stamp paper of different values, as decided by the authorities. Once you make the payment, it is proof that the government has been paid the required fee. It also acts as a future reference for you.
The Stock Holding Corporation of India Limited (SHCIL) is the Central Record Keeping Agency (CRA) for all e-stamps used in the country.
The payer has to approach an ACC appointed by SHCIL after filling the application form as prescribed in the e-stamping system. The e-stamp certificate will be generated immediately.
A payer can deposit the stamp duty amount through the following modes -
- Cash
- Cheque
- Demand Draft
- Pay Order
- RTGS
- NEFT
- Account to Account transfer
The authority will not issue a duplicate copy of e-stamp paper.
Once an e-Stamp is generated, then it cannot be edited or modified in any manner.
The ACCs are not authorised to cancel the generated e-stamp certificates. If you are willing to cancel the certification, then you need to contact the competent authority at the Stamp Office appointed by the State government.
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