E-Stamping is the process of issuing a stamp online. This curbs the money and work are taken to pay stamp duty. Due to the progression of e-stamping, it is now compulsory to implement e-stamping in Delhi as of 2021. The task of e-stamping has been delegated to the Stock Holding Corporation of India (SHCIL).
Process of E-Stamping
This process is simple and easy. It is easy for everyone to implement. This can be done from the official website of the Stock Holding Corporation of India Limited. The steps involved in the process of e-stamping is as follows,
- Visit the E-Stamping website. The link to this website is https://www.shcilestamp.com/
- First-time visitors need to register on the website. This is an easy and completely free process.
- In the user registration process, the most key points to submit are a valid email ID and mobile number.
- Once the registration is done, enter your credentials to create a user ID and password.
- Now that you have valid credentials, enter the user ID and password. This logs you into the portal.
- Once you have logged in, select the STATE from the drop-down menu. Once you have selected the correct state, you have to choose the option to locate the “Nearest SHCIL Branch”.
- After this you have to enter mandatory details like first-party name, second party name, article number, stamp duty paid by, and stamp duty amount. Once you have entered all these details, this will help you generate an online reference acknowledgement number.
- Print out the Online Reference Acknowledgement Number and visit the nearest stockholding branch to get the final print out of the e-stamp certificate.
- The charges of an e-stamp can be paid in various modes of payment like cash, cheque, demand draft, pay order, RTGS, NEFT, and account to account transfer.
In 2013, the State government came up with an alternative way of paying stamp duty online. Homebuyers have to go to an online payment platform – Electronic Secured Bank Treasury Receipt (eSBTR). The process of paying stamp duty using this portal is easy.
- Log on to the website of the authorised bank
- Click the link – Payment of stamp duty/registration fees
- Enter the details
- Pay the duty online
The banks that permit e-stamping in Maharashtra are IDBI Bank, PNB, Canara Bank, Bank of Maharashtra, Bank of India, Union Bank of India, Bank of Baroda, and SBI.
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