<p>The good news: The State Government has, at last, introduced e-stamping service across the State enabling people to pay the stamp duty without much ado. <br /><br />The bad: Service charges is payable on stamp duty up to Rs 5,000 under the system, although there is no charge for stamp duty of more than Rs 5,000.<br /><br />After two and half years delay, the State Stamps and Registration department has made the e-stamping service available in almost all taluks by opening 530 Authorised Collection Centres (ACCs), including 106 in Bangalore. <br /><br />People can drop in at any of these ACCs, fill in an application form, pay the stamp duty and collect e-stamp certificate (hitherto document sheets).<br /><br />The Stock Holding Corporation of India (SHCI), the Central record-keeping agency appointed by the Union Government, is implementing the e-stamp system. <br /><br />The SHCI has tied up with nine different authorised agencies (AAs), including four nationalised banks and the Department of Posts, to provide the service. ACCs have been opened at the selected branches of these agencies.<br /><br />E-stamping was launched on pilot basis in March 2008, covering six sub-registrar offices in Bangalore. As per the agreement between the department and the SHCI, the service was to be extended across the State within three months of the launch of the pilot project. And, more importantly, it was agreed to provide the service free of cost to people. The SHCI would get 0.65 per cent commission on every transaction from the department. <br /><br />“The SHCI not only failed to extend the service in three months, but later came up with a demand to allow it to collect the service charge from people. The SHCI was not ready to pay for the service of the AAs to run ACCs from its pocket. Hence, it wanted to pass the burden on to people. <br /><br />As per the agreement, it was the responsibility of the SHCI to rope in the AAs. The Government finally yielded to the demand and gave permission to collect the service charge recently,” official sources said.<br /><br />Accordingly, people now have to pay the service charge of Rs 10 for stamp duty payable up to Rs 100. For Rs 101 to Rs 5,000 stamp duty, the service charge will be Rs 15. There will be no service charge for stamp duty above Rs 5,001 under the system.<br /><br />The service charge mainly applies to those who will be entering into sale agreement, agreement of deeds and rent and lease agreements -- the stamp duty for which will normally be below Rs 5,000, officials said.<br /><br />More ACCs<br /><br />Inspector General of Registration and Commissioner for Stamps S N Jayaram said the department has plans to rope in all District Co-operative Central (DCC) banks in the State. If it is done, the service will be made available in additional 600 ACCs of DCCs, he added.<br /><br />What is e-stamping...<br /><br />E-stamping is a computer-based application by which stamp duty can be paid using electronic means. It is also a secure way to stamp documents as every e-stamp certificate will carry a unique, tamper-proof identification number.<br /><br />Authorised agencies<br /><br />Corporation Bank, Canara Bank, Syndicate Bank, Indian Bank, IDBI Bank, Karnataka State Co-operative Urban Banks’ Federation, Karnataka State Souharda Federal Co-operative Limited, Karnataka State Co-operative Apex Bank and post offices of the Department of Posts.<br /><br />Service charges<br /><br />* Rs 10 for stamp duty payable up to Rs 100<br />* Rs 15 for stamp duty payable between Rs 101 to Rs 5,000<br />* No charge for stamp duty of more than Rs 5,000<br /><br /></p>
<p>The good news: The State Government has, at last, introduced e-stamping service across the State enabling people to pay the stamp duty without much ado. <br /><br />The bad: Service charges is payable on stamp duty up to Rs 5,000 under the system, although there is no charge for stamp duty of more than Rs 5,000.<br /><br />After two and half years delay, the State Stamps and Registration department has made the e-stamping service available in almost all taluks by opening 530 Authorised Collection Centres (ACCs), including 106 in Bangalore. <br /><br />People can drop in at any of these ACCs, fill in an application form, pay the stamp duty and collect e-stamp certificate (hitherto document sheets).<br /><br />The Stock Holding Corporation of India (SHCI), the Central record-keeping agency appointed by the Union Government, is implementing the e-stamp system. <br /><br />The SHCI has tied up with nine different authorised agencies (AAs), including four nationalised banks and the Department of Posts, to provide the service. ACCs have been opened at the selected branches of these agencies.<br /><br />E-stamping was launched on pilot basis in March 2008, covering six sub-registrar offices in Bangalore. As per the agreement between the department and the SHCI, the service was to be extended across the State within three months of the launch of the pilot project. And, more importantly, it was agreed to provide the service free of cost to people. The SHCI would get 0.65 per cent commission on every transaction from the department. <br /><br />“The SHCI not only failed to extend the service in three months, but later came up with a demand to allow it to collect the service charge from people. The SHCI was not ready to pay for the service of the AAs to run ACCs from its pocket. Hence, it wanted to pass the burden on to people. <br /><br />As per the agreement, it was the responsibility of the SHCI to rope in the AAs. The Government finally yielded to the demand and gave permission to collect the service charge recently,” official sources said.<br /><br />Accordingly, people now have to pay the service charge of Rs 10 for stamp duty payable up to Rs 100. For Rs 101 to Rs 5,000 stamp duty, the service charge will be Rs 15. There will be no service charge for stamp duty above Rs 5,001 under the system.<br /><br />The service charge mainly applies to those who will be entering into sale agreement, agreement of deeds and rent and lease agreements -- the stamp duty for which will normally be below Rs 5,000, officials said.<br /><br />More ACCs<br /><br />Inspector General of Registration and Commissioner for Stamps S N Jayaram said the department has plans to rope in all District Co-operative Central (DCC) banks in the State. If it is done, the service will be made available in additional 600 ACCs of DCCs, he added.<br /><br />What is e-stamping...<br /><br />E-stamping is a computer-based application by which stamp duty can be paid using electronic means. It is also a secure way to stamp documents as every e-stamp certificate will carry a unique, tamper-proof identification number.<br /><br />Authorised agencies<br /><br />Corporation Bank, Canara Bank, Syndicate Bank, Indian Bank, IDBI Bank, Karnataka State Co-operative Urban Banks’ Federation, Karnataka State Souharda Federal Co-operative Limited, Karnataka State Co-operative Apex Bank and post offices of the Department of Posts.<br /><br />Service charges<br /><br />* Rs 10 for stamp duty payable up to Rs 100<br />* Rs 15 for stamp duty payable between Rs 101 to Rs 5,000<br />* No charge for stamp duty of more than Rs 5,000<br /><br /></p>
