In a major reform initiative, Delhi government on Friday launch electronic-stamping facility to completely do away with stamp paper of all denominations. The facility was inaugurated by Divisional Commissioner Vijay Dev here.
Currently, e-stamping is applicable to values of Rs 501 and above but government has now decided abolish stamp papers of all denominations, which will mean people will have to pay stamp duty for sworn affidavits, agreement of tenancy, mortgage deeds, power of attorney and other instruments through e-stamping facility.
The Budget session of Delhi Assembly had already passed a bill to introduce e-stamping for all denominations. The government had introduced e-stamping on 1 April 2008, in the city mainly to ensure transparency in payment of registration fee in property transactions.
The facility was first introduced post-Telgi scam as a measure to curb stamp paper-linked frauds.
Currently, e-stamping is applicable to values of Rs 501 and above but government has now decided abolish stamp papers of all denominations, which will mean people will have to pay stamp duty for sworn affidavits, agreement of tenancy, mortgage deeds, power of attorney and other instruments through e-stamping facility.
The Budget session of Delhi Assembly had already passed a bill to introduce e-stamping for all denominations. The government had introduced e-stamping on 1 April 2008, in the city mainly to ensure transparency in payment of registration fee in property transactions.
The facility was first introduced post-Telgi scam as a measure to curb stamp paper-linked frauds.