To understand what is stamping or e-stamping in India, we need to first look at what is stamp duty and why is it required?
Any transaction with regards to a property has to be recorded and a certain amount has to be paid to the relevant authorities in this regard. The amount payable is known as stamp duty. A stamp duty is paid to ensure that the government has a proven record of the transaction that has taken place with regards to the said property.
Stamping was a tedious process earlier, however, the government of India introduced e-stamping in July 2013 to make the process smoother, easier and error-free. The e-stamps are recorded and maintained by Stock Holding Corporation of India Limited.
So far, e-stamping has been introduced in 19 states of India. The process to get e-stamping done is fairly simple. Just visit the official website of SHCIL and check whether your state falls in the list. Select your state and fill the application form in ACC. please ensure that the application form has all the details of the parties involved in the transaction. Submit the form with the concerned authorities and make the payment via debit card, credit card, pay orders, RTGS, NEFT, or account-to-account transfer.
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What is stamping?
Harsh Sharma
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5 Year
2021-03-04T12:22:11+00:00 2021-03-08T13:06:25+00:00Comment
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