What are E-stamps?
E-stamps are an electronic form of stamp papers and it can be used for all instruments wherein stamp duty is payable. Instruments like conveyance deed, gift deed, sale deed, lease deed, power of attorney, exchange deed, deed of partition, leave and license agreement and various other agreements.
What is E-stamping?
E-stamping is a technology friendly application. It is basically, a computer based platform wherein stamp duty can be paid and collected easily. It is a hassle free platform, it enables the storage of information in a protected electronic form and prevents the leakage of government revenue as well as helps in securing the important stamp related documents. It also creates an easy pathway for verification by creating a Unique Identification Code. E-stamping is a secure way of paying a non-judicial stamp duty to the government and is currently prevailing in the states of Gujarat, Karnataka, NCR Delhi, Maharashtra, Assam, Odisha, Tamil Nadu, Himachal Pradesh, Uttar Pradesh, Rajasthan, Andhra Pradesh, Union Territories of Dadra and Nagar Haveli, Daman & Diu, Puducherry, Uttarakhand and Jharkhand.
Advantages of using E-Stamps:
1. It is a hassle free process.
2. It is the utmost genuine document.
3. It cannot be copied.
4. Duplication of the e-stamps certificate is difficult and is eliminated through the use of an optical watermarking.
5. The authenticity of the e-stamps can be verified online.
Disadvantages of an E-Stamps document:
1. Obtaining a duplicate copy is difficult.
2. Cancellation and refund are again a task and has to be done via an agency.
Introduction of e-stamping in Karnataka:
After facing a lot of hardships in terms of counterfeit/ forged stamp papers. The Karnataka State Government introduced the process to attain e-stamps in 2008 initially at Gandhinagar sub-registrar office and now all over the state. The main reason for the launch of the prevailing e-stamping system to obtain e-stamps in Karnataka was to curb the cumbersome process of paying of stamp duty.
How to get the E-Stamping done in Karnataka?
1. Open the website and check whether the transaction requires stamp duty.
2. Fill up an application form at one of the ACCs (Authorized Collection Centers).
3. Submit the form along with the payment required to be made through prescribed modes of payment.
This system of E-Stamping for obtaining E-Stamps is flourishing and is helping in evading the old system of physical stamping/ franking. E-stamping has helped in evading away with the fraudulent practices which were involved in paper based registrations and transactions.
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