IT Initiatives: bill to Amend indian Stamp act to be Introduced

Rs. 300 Crores Scheme to be Launched to Modernize Stamp and Registration Administration in States

The Union Budget 2011-12 proposes to amend the Indian Stamp Act. Presenting the Budget in Lok Sabha Finance Minister Pranab Mukherjee said that a bill will be introduced shortly to amend Indian StampAct, 1899.

The Minister said that while the initiatives to introduce a modern and people friendly e-stamping facility have been taken five years ago only five states have introduced this system. A new scheme with an outlay of Rs. 300 crores will be launched to provide assistance to States to modernize their stamp and registration administration and roll out e-stamping in all districts in the next three years.

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0 Comments

  1. R.L.Garg says:

    E stamping is a better way of making payment of stamp duty. More banks be authorised to issue E stamping papers for convenience of citizens and steps be taken to curb the bad practices even at the time of issuance of Stamp paper and unnecessary questions by such issuing banks

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