Requirements | e stamp | Indian e-stamping | Benefits | SHCIL & Activities | e-stamping on SHCIL | ACC | Payment Options | Documentation Process | Payment Procedure | FAQs | Conclusion

You must pay stamp duty for each purchase or sale of real estate to fulfill the transaction. Although buyers formerly had to physically appear at the sub-office registrar’s to register a property, they can now complete a large portion of the process online. 

Online stamping, also referred to as e-stamping, is this technique. This article provides all the information you require about e-stamping in India.

Why is an e-stamp paper required?

Since land is a state issue in India, you must pay e-stamp duty on the property to states when purchasing, selling, leasing, or generating deeds. How do you pay for it, then? These payments to the government are made by purchasing stamp paper with various values determined by the authorities. The fact that you have paid the requisite amount to the government is evidence that you have done so. Additionally, you can use it as a future reference.

What is an e stamp?

The stamp is referred to as an “e stamp” when the entire process of purchasing the stamp paper is performed online, and no actual stamp paper is involved.

E stamping up
Source: SHCIL

Indian e-stamping

The Indian government launched the e-stamping facility in July 2013 to lessen instances of scams and mistakes. The Central Record Keeping Agency (CRA) for all national e-stamps is the Stock Holding Corporation of India Limited (SHCIL). The SHCIL is authorized to carry out all of these tasks, including user registration and administration, e-stamping applications, and maintaining these data. Additionally, it has charged collection centers, sometimes called ACCs (scheduled banks), which provide certificates to people who want them.

Benefits of e-stamping

  • The e-stamp certificate can be generated using e-stamping in a matter of minutes.
  • The e-stamp certificate cannot be tampered with and has a unique identification number (UIN).
  • Using the inquiry module, you can verify the genuineness of the e-stamp certificate.
  • For e-stamping, a specific denomination is not needed.

What does SHCIL do, and what is it called?

The most prominent depository participant in India, Stock Holding Corporation of India Ltd (SHCIL), was established in 1986 as a public limited company.

SHCIL is a subsidiary of IFCI Limited, which as of March 31, 2019, owned a 52.86 percent stake in the company. All Indian banks and financial institutions, including IFCI Ltd, LIC, SU-UTI, GIC, NIA, NIC, UIC, and TOICL, jointly promote and own SHCIL.

SHCIL “pioneered the Demat services in India” and the e-Stamping services, which have simplified the process of paying the government. It serves as a central repository for e-stamping records as well.

UTI, LIC, GIC, Oriental Insurance, New India Assurance, National Insurance, United Insurance, IDBI MF, LIC MF, GIC MF, SBI MF, Shriram MF, and Sundaram MF are just a few of the companies that SHCIL serves as clients. SHCIL is one of the innovators in the depository services industry, with more than 6,50,000 accounts as clients.

e-stamping SHCIL

The Indian government only selected one central record-keeping agency (CRA), SHCIL. User registration, payable and receivable balances, and overall e-Stamping application operations and maintenance fall under the responsibility of the central recordkeeping agency.

Citizens can pay stamp duty online and print e-Stamp certificates from the comfort of their homes using the SHCIL e-stamping services. Additionally, SHCIL names Authorized Collection Centers (ACCs), which provide customer certificates at their counters.

An ACC is what?

Authorized Collection Centers (ACCs) are representatives chosen by SHCIL who operate as a mediator between the agency and the payer of stamp duty. In India, scheduled banks and post offices are eligible to join ACCs.

Multiple options to pay stamp duty under the e-Stamping system. 

The following methods are available for clients to pay their stamp duty:

Demand draught, Pay order, Cash Cheque, RTGS, NEFT, and Account-to-Account Transfer.

How to get your documents e-stamped?

Step 1: Check out SHCIL’s official website at Select “products and services,” then “e-Stamp services,” and then “e-Stamping.”

e stamp reg
Source: Stockholding

If your state permits e-stamping, it will be indicated on the webpage. The NCT of Delhi, Gujarat, Chhattisgarh, Karnataka, Himachal Pradesh, Odisha, Tripura, Ladakh, Chandigarh, Jammu & Kashmir, Madras, and the Andaman & Nicobar Islands can generate an e-stamp certificate online. The SHCIL has maintained that people should use the facility wherever available due to the COVID-19 pandemic.

Step 2: From the dropdown list, choose the state. In the example, the NCT of Delhi has been selected.

Step 3: You must complete an application. Visit the “Downloads” option on the home page and choose the necessary application. Let’s say that the proper application is the one for which the stamp duty payment is less than Rs. 501. Download the form, then complete it.

Step 4: You must submit this form and the required money to obtain a stamp certificate.

How do I pay for e-stamping stamp duty?

Cash, checks, demand draughts, pay orders, RTGS, NEFT, or even account-to-account transfers are all acceptable forms of payment for stamp duty. You can use cash, a check, or a DD to make a payment at an ACC.

Important information on e-stamping.

An e-stamp certificate will not be issued in duplicate.

Once an e-stamp request is canceled, only going to a SHCIL office will result in a refund.

In Maharashtra, electronic secured bank treasury receipts (eSBTR), an online payment tool, can be used to pay stamp duty instead of SHCIL.

Frequently asked inquiries about stamp duty include the following:

  1. Where should I send my stamp duty payment?
  2. Which legal system does the transaction fall under?
  3. What should my stamp duty cost?

There are three ways to pay the stamp duty, despite the process’ seeming simplicity. However, not all states might have all three of the following facilities:

  1. E-stamping
  2. Judicial-style stamp paper Franking device
  3. For tech-aware people, e-stamping, also known as electronic stamping, is the most straightforward procedure.

In Conclusion

Paying stamp duty fees when purchasing or selling real estate in India is required. The government launched the E-stamping service to pay non-judicial stamp duty to the government in an electronic and secure manner as technology took over. To lessen mistakes and counterfeits, the government launched this effort in July 2013. You can get your documents stamped, pay the Indian e-stamp charge online, and check the electronic stamp.

Also, check the details on the e-shram card.