If you are new to Bangalore & trying to figure out what is exactly is an E-Stamp Paper or the one which is widely used in Rental Agreements / Lease Agreements or any other legal documents. This blog might be helpful.
What is Stamp Paper?
The stamp paper is a foolscap size paper having printed revenue stamp of specific value such as Rs.10, Rs.20, Rs.50, Rs.100, Rs.500 etc. by Govt. Generally, all important transactions like buying, selling or renting of any property shall be done on stamp paper.
The stamp papers also are a source of revenue for Government.
The stamp paper is also used for giving power of attorney or doing any type of agreements containing financial deals, contracts, affidavits, declaration.
The stamp paper is a foolscap size paper having printed revenue stamp of specific value such as Rs.10, Rs.20, Rs.50, Rs.100, Rs.500 etc. by Govt. Generally, all important transactions like buying, selling or renting of any property shall be done on stamp paper.
The stamp papers also are a source of revenue for Government.
The stamp paper is also used for giving power of attorney or doing any type of agreements containing financial deals, contracts, affidavits, declaration.
When was stamp paper Introduced?
Stamped paper is thought to have been a Spanish invention,[3] being introduced (or reinvented) in the Netherlands in the 1620s.[4] It has been used widely in France (from 1651),[4] Great Britain (from 1694),[4] the United States, India and elsewhere.
What is E-Stamp paper?
E-Stamp Paper is a computer-based and a secured way of paying non-judicial stamp duty to the government. This is the most convenient way to pay stamp duty to the Government. E-stamp services were introduced in Karnataka in the year 2008 to prevent fraud related to registrations.
What is the benefit of E-Stamp paper?
- It is generated within minutes.
- It cannot be tampered.
- Every E-stamp paper has a unique number.
- You can check the authenticity of the E-stamp paper online.
- Specific denomination is not required.
Old stamp paper and New E-Stamp paper
Types Of Stamps And Stamp Papers Used In India
Broadly, there are two types of stamps in use in our country. They are
- Impressed Stamps
- Adhesive Stamps
- Impressed stamps include labels that are affixed/ impressed by an officer. It could also be a stamp that is embossed or engraved on Stamp paper. And finally, they could be impressions left by Franking machines, which is generally done at banks.
- Adhesive stamps, as the name suggests are convenient labels that are simply stuck on instruments/documents. They are further classified as postal and non-postal stamps. For documents, impressed stamps are the ones in common use.
Ways To Pay For Stamp Duty ?
Stamp duty is paid through the purchase of Stamp paper. The way you purchase Stamp paper varies from state to state in India. In few states, the very convenient e-Stamping system is in place while in some other states, the traditional impressed non-judicial Stamp papers are to be purchased from Stamp vendors.
For your reference, here’s a table of differences between Judicial and Non-Judicial Stamp paper-
- Judicial E-Stamp Paper
Used for payment of court fees. This is also known as court fee Stamp paper.
Used in activities related to Administration of Justice.
Stamp duty paid for Judicial Stamp Paper is paid under the Court Fees Act, 1870.
- Non-Judicial E-Stamp Paper
Used for execution of legal documents.
Used in documents like agreements, transactions related to real estate, power of attorneys etc.
Stamp duty for Non-Judicial Stamp Paper is paid under The Indian Stamp Act, 1899.
At present the non-judicial stamp papers of value INR 5, 10, 20, 50, 100, 500, 1000, 5000, 10000, 15000, 20000 and 25000 are available.
Parts of Non Judicial Affidavits: There are 5 parts of a Non Judicial Affidavit.
- Non Judicial Stamp Paper
- Affirmation by Deponent.
- Assertion of Facts.
- Verification by the Deponent.
- Attestation by Notary/Oath Commissioner.
Thus it is mandatory to use stamp paper for creating enforceable documents and that too, you have to use stamps of specified value as prescribed in the stamp act.
Do E-Stamp papers Expire?
As per Section 54 of the Indian Stamp Act, if you do not have any immediate use of a stamp paper, then you can deposit it back to the collector within six months from the date of purchase and take back your money as a refund after deduction of 10 paise per rupee.
Avail Documents Printed On E-Stamp Paper With Document Bazaar
If you are in need of a legally valid and enforceable document or instrument, proceeding in the conventional way can take up a lot of your time. This is why Document Bazaar exists. We can let you create legal documents online from the comfort of your home, have it printed on Stamp paper of recommended value and get it delivered to your doorstep. All you need to do is pick which document you want to create, and fill in your details. All forms and documents available with us are verified by our in-house legal experts and are hence, guaranteed to give you the protection you deserve.
Where do we get E-Stamp Paper in Bangalore?
Stamp papers are available at Sub Registrar Offices. However after the introduction of E-stamp in Karnataka you can get them online.
How to get E- stamp paper in Bangalore online?
Visit our website Home Page & Click on E-Stamp Paper :-
Step 1 : Fill in the name of the First Party and Second Party.
Step 2 : Choose the Stamp Paper Value
Step 3 : Add how many copies of the Stamp Paper you require.
Step 4 : Mention the type of Document you would be making the stamp paper for . Ex : Rental Agreement, transfer documents such as sale agreement, mortgage deed, conveyance deed, exchange deed, gift deed, power of attorney, agreement of tenancy, deed of partition, lease deeds.