Thursday, March 15, 2012

DELHI SET TO ABOLISH STAMP PAPERS

In a major reform initiative, the Delhi government has decided to completely do away with stamp
paper of all denominations and shift to electronic-stamping facility, a move aimed to ensure hassle-
free transactions and prevent fraudulent practices. Currently, e-stamping is applicable to values of
` 501 and above; but, the 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.

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