Wednesday 8 October 2014

FRANKING OF STAMP PAPERS

Advocate S Selvakumar|Property advocates in Bangalore|Property lawyers in Bangalore

Common man wants little denomination of the stamp papers for varied functions like legal instrument, Rental agreements, agreements, enterprise, power of professional, bonds, note of understanding etc. Public needs tax of the denomination of  Rs 20,50,100 & two hundred for death penalty  affidavits, rental agreement, Indemnity Bonds and Sale Agreement severally. These are all the common demand of stamp duties for giving legal sanction to any quite documents. Now-a-days the government departments are demand for getting affidavits and indemnity bond for varied functions.

Non-availability
Previously, department of stamp duty was appointing the approved stamp vendors to sell the stamp papers for the higher than aforesaid documentation purpose. It had been sort of a public fare worth outlets, whereby such stamp papers were simply out there not solely altogether the vital places however conjointly terribly very remote and interior villages. Infact, Stamp papers were out there even within the late night conjointly. Any understanding between the parties are reduced in writing on the stamp paper and would be signed on it, as the same can be binding on each the parties. once the Telgi scam, from 01/04/2003, using stamp papers for the aim of any documentation has been totally prohibited in Karnataka. 

S.B.M.paper
After the amendment of Section 10A of the Karnataka legislative act, 1957, provision has been created for payment of tax by DD/Pay Order or Bankers Cheque, drawn in favour of the concerned Sub-Registrar office available deeds and other documents. getting stamp papers of little denomination, solely 2 choices are out there. One is, franking the stamp paper within the involved sub-registrar workplace and another one is buying the document sheet from the bank of Mysore. sadly, each the modes of getting stamp papers are terribly tedious since it involves ton of procedure and formalities. Further, the aforesaid facility is avaible to the general public just for five to six hours each day.  Infact solely in few branches of bank of Mysore the power of issuance stamp papers are out there. In such case, public has  to stock up the challan and  mention the denomination that stamp paper is needed and consequently needs to pay the requisite commission charges on such quantity and later needs to stand on a awfully long queue. therefore obtaining a stamp paper in SBM may be a time intense method. Again, such approved branches of bank of Mysore aren't a lot of fascinated by issuance this stamp paper rather they're concentrating a lot of on their banking business. Infact, among those approved branches conjointly, only 1 or 2 banks solely can issue the stamp paper on it explicit date and priority are given for his or her regular customers of the aforesaid Bank.

Franking procedure
The matter needs to be written within the written report or document sheet and needs to be submitted for franking at the side of the applying, however while not date and signature of the parties to the aforesaid document. This facility is accessible in bound explicit sub registrar offices solely like Jayanagar, Gandhinagar, Basavanagudi, Shivajinagar, Rajajinagar, Kengari, Anekal Sub registrar offices, this facility is accessible and therefore the franking time is merely  between 10:30 A.M. to 3:30 P.M, excluding the lunch hour. Rules and rules vary from one sub-registrar workplace to the alternative. If the party produces the documents for franking, the involved sub-registrar might refuse by varied reasons. as an example, if an individual created a lease agreement quite eleven months, or that the agreement involves advance quantity or if standard is dead in favour of person aside from his/her friend then it should be refused owing to inadequate tax. However, it's not a requirement of the sub-registrar wherever the franking of the tax is completed to establish the tax, however it's by the District Registrar or the Court that ought to decide the requisite tax on any document at the time of presenting the documents.

Fake Papers
For the past 2 years, little denomination stamp papers were out there simply everyplace. once ending of the stamp papers, government has not taken any initiative to induce the little denomination of the little papers by straightforward technique, that has forced the general public to shop for the paper within the easiest method within the Taluk workplace and sub registrar offices entrance, that has resulted within the creation of ton of (small Telgis). Infact, 2 months past, town Crime Branch (CCB) raided few of the Sub-registrar offices and Taluk workplace and have set-aside thirty eight criminal franking, out of that twenty one cases in town Civil Court premises and therefore the rest at salad dressing Hall, Yelahanka, Peenya, Yeshwanthpur, Koramangala and Jayanagar and in remission nearly forty seven agents for having concerned within the circulation of faux stamp papers and franking ink and pads, seals and franked blank sheets were conjointly confiscate. These faux papers are either franked from their own franking machineries or from the initial stamp papers, they're victimization color zerox. folks ought to approach the approved Sub Registrar offices to induce the stamp paper raised on the written text before signature.

Franking machine  
The Franking Machines shall be used for franking impression of Stamps on all types of instruments on that tax is collectible below the provisions of Indian Stamps Act 1899 and therefore the province legislative act, 1957 and therefore the rules created there below.

Usage of machine by the correct Officer 
a)Franking Machines shall be put in before the correct Officer, at the workplace of the Superintendent of Stamps, Bangalore, Offices of the District Registrar and Offices of the Sub-Registrars at Gandhi Nagar, Jayanagar, Shivajinagar, Basavanagude, Rajajinagar and Kengeri or  in the other offices as could also be approved by the Chief dominant Revenue Authority in province for impressing Stamps indicating the payment of stamps duty on the instrument guilty with duty and therefore the operation of identical shall be below strict vigilance and supervising of the correct Officer.

b)Before the machine is put to use, identical shall be authorized loaded and sealed by Superintendent of Stamps or District Registrar, Assistant Commissioner of Stamps or such alternative officer approved by Chief dominant Revenue Authority and shall maintain Register in type No.1 relating to loading and reloading and type No.2 relating to come of the same and shall be scrutinized each month. just in case of  periodical loading of the machine, sanction from District Registrar is critical if identical is being dole out by the officer alternative that those approved to try and do such act, that shall be entered in type No.3.


c)The access code to the numeric of the Franking Machines shall be solely with the Superintendent of Stamps or District Registrar who shall be liable for non revealing, thence to any individual and WHO shall maintain a separate register in respect of every loading / reloading / incrementing of the number. 

d)The correct Officer shall make sure that the seals aren't tampered with, in any approach by any individual or that machine isn't handled by any un-authorized persons. 

e)The Proper Officer shall be liable for the custody of the machine.  A register in type No.4,shall be maintained during which the meter reading are recorded one by one, each at the commencement of the day and at the shut of the day. The distinction between the aforesaid readings shall be the whole quantity collected in respect of impressions franked.

f)The parties desirous of getting stamps impressed on all types of instruments  shall make an application in Form No.5 at the side of the instrument and price of Stamps to be affected, by Challan or money or Pay Order or Bankers Cheque or Demand Draft to the correct Officer and on the receipt of identical, requisite quantity of tax are raised on the instrument and thenceforth the correct Officer shall affix his signature within the house provided on the affected stamps, which shall be serially numbered and therefore the particulars are to be entered in Form No.6.

g)The approved user shall in the slightest degree cheap times enable approved workplace or the authorizing authority or the District Registrar to examine the machine and collect records unexpectedly.

h)Franking or impressing of Stamp could also be allowed up to any amount and such amount, as way as doable, needs to be created on the correct high corner of the primary page of the instrument itself and needs to be clear and in bright red color solely. inclose of any mistake or wrong within the quantity affected then that impression shall be torn from the instrument and affixed within the register of daily posting and shall be attested by the approved user or correct officer.  At the time of resetting, depart up to the number of wrong impression shall tend. 

Thus, non-availability of little denomination stamp papers has forced the general public either to approach the agents close to court advanced or sub-registrar workplace entrance or to enter into agreements in written report, while not paying requisite tax, which, in turn, results in ton of litigations. so as to unravel this drawback, the Department of Stamps and Registration needs to give decent modes for availing stamp papers of little denominations, that conjointly generates a lot of financial gain for the govt.


More,
Advocate Selvakumar

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