It is important to check all the particulars carefully, as a cancellation attracts roughly 10 per cent of the stamp duty charges. Only if the payment is made via cheque or NEFT, the stamp certificate is received after the SHCIL receives the money. After the payment has been realised by the bank, a preview copy of the e-stamp is given to the applicant. You can pay the stamp duty in cash, cheque, bank draft, or through national electronic fund transfer (NEFT). SCHIL has tied up with various banks which act as authorised collection centres for it. The e-stamping facility is available in states like Karnataka, Delhi & National Capital Territory, Gujarat, Maharashtra, Assam, and Tamil Nadu. Stock Holding Corporation of India (SHCIL) is the nodal agency responsible for implementation and maintenance of records for e-stamping. Using the e-stamping facility: The computerised mechanism that ensures everything is done within minutes allows third-party verification. However, franking machines are not available at all bank branches and they, too, have their franking quota. The document for which stamp duty is to be paid is printed on plain paper (before the parties sign it) and a stamp is affixed on the paper, indicating the value of the stamp duty. It's a quick method, especially if you want to pay in cash or through a demand draft. Using a franking machine: You submit an application to an authorised bank.
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