With digitalization, the process of stamp duty has also gone online. E-stamping is nothing but paying the stamp duty charges electronically. This implies that purchasing stamps physically and applying them to documents is no longer necessary. The e-stamp paper online is generated and then printed by the user on plain paper, which is then pasted on the document. Without any hassle of standing in long queues, one can now get their documents e-stamped from the comfort of their home.
This process is becoming increasingly popular as it offers several advantages over traditional methods of document signing. In this blog post, we will discuss what an e-stamp is, the different types of e-stamps available, and the process fees associated with e-stamping.
Let’s get started.
What is E-stamp Paper?
Stamp duty is being paid to the government online while using e-stamp paper. To enable a quick and trouble-free stamp duty online payment procedure, the state has switched from the traditional paper and franking stamping approach with a digital plan. This service is now available in 22 Indian states. Maharashtra operates its system for paying stamp duty electronically. The Central Record Keeping Agency (CRA), as well as Stock Holding Corporation of India Limited (SHCIL), are responsible for generating e-stamp certifications in India. To issue e-stamp documents, SHCIL employs Authorized Collection Centers (ACCs) that serve as the intermediaries between the CRA and stamp duty payer.
Importance of E-Stamp
An e-stamp is an electronic way of paying stamp duty. It is a legal document that proves that the right amount of stamp duty has been paid on a particular transaction. E-stamping is mandatory for transactions like the sale or transfer of property, vehicle registration, lease agreement, etc.
Paying stamp duty electronically has many advantages. For one, it is a very convenient process. Everyone can do it from the comfort of their home or office without going to the Sub-Registrarâ€™s office. Secondly, it is a much faster process and will get the documents registered in no time. Thirdly, e-stamping is a very secure way of paying stamp duty, and there is no scope for fraud or forgery.
Various Payment Options at the E-stamping Portal
One can pay the cost through India’s e-stamp registration in the following ways:
- Debit card
- Credit card
- Net banking
- E challan
E-stamping is the process of paying stamp duty electronically. It is a way of paying stamp duty on certain documents, such as share transfer deeds, leave, license agreements, etc. The e-stamp online portal was set up by the government for this purpose. The process of e-stamping is simple, convenient, and saves time. One can also track the status of their payment and view the receipt online.
E-Stamping Processing Fees
The e-stamping processing fees for the e-stamp registration of a property in India are divided into two parts:
- The portal user fee is paid to the e-stamping service provider.
- The government fee goes towards the state government’s stamp duty collection.
Government fees are a percentage of the total value of the property and differ from state to state. The e-stamping system has been made mandatory for all types of property registrations, including sale deeds, lease deeds, gift deeds, power of attorney, etc. The stamp duty online payment can also be used for non-property-related registrations, such as share transfers and court fee payments.
The Bottom Line
E-stamping is an integral part of the securities market in India. It is a process that allows for the easy, efficient, and secure transfer of securities. The e-stamp online portal is a one-stop shop for all e-stamping needs. The process is simple, and the fees are very reasonable. If anyone wants to buy or sell securities in India, e-stamping is the way to go.
Disclaimer: This article is based on the information publicly available for general use. We do not claim any responsibility regarding the genuineness of the same. The information provided herein does not, and is not intended to, constitute legal advice; instead, it is for general informational purposes only. We expressly disclaim / disown any liability, which may arise due to any decision taken by any person/s basis the article hereof. Readers should obtain separate advice with respect to any particular information provided herein.