Stamp Duty – e Stamping In Tamil Nadu
Introduction
Stamp duty payment is essential for carrying out several business transactions in Tamil Nadu. e Stamping Tamil Nadu documents & agreements take this process the digital route & enables quicker & more seamless execution of legal documents.
Paying stamp duty online by purchasing e Stamp papers is a smart way for businesses to ensure all documents they produce are legally valid. There are several ways businesses can get their documents stamped in Tamil Nadu. However, many of these options can often cause various inconveniences that are not desirable for the efficient functioning of businesses.
Which Documents Should Be Stamped In Tamil Nadu?
There are several documents in Tamil Nadu that are levied with stamp duty charges in order for them to be legally admissible in a court of law. Some of the most important documents for which stamp duty needs to be paid in the state are as follows:
- Property registration documents
- Exchange deeds
- Gift deeds
- Simple mortgages
- Sale agreements
- Mortgages with possession
- Partition deeds
- Settlement deeds
- Power of attorney documents
- Partnership deeds
- Lease deeds
- Trust registration documents
The stamp duty charge varies for each of the above document types, to know the exact tariff for a particular transaction, click here.
How To Pay Stamp Duty & Stamp Documents In Tamil Nadu
Stamp duty is a state-level tax levied on individuals and businesses for getting a document stamped.
Paying stamp duty is equivalent to getting a document legalized and making it legally admissible as evidence in courts of law, therefore stamping documents in Tamil Nadu is crucial for banks, insurers, real estate businesses & more.
Tamil Nadu stamp paper may be purchased in a number of ways.
- Stamp Paper Purchase
The most familiar method of stamping in Tamil Nadu involves the procurement of stamp papers from licensed stamp vendors. However, businesses can purchase stamp papers of the value of Rs.10,000 & above directly from the Tamil Nadu sub-treasuries.
However, this mode of stamp duty payment is immensely inconvenient for businesses as it involves complex logistics and coordinating with multiple different vendors, clients, and business stakeholders.
Purchasing physical stamp papers in Tamil Nadu makes agreement execution slower by more than 50% and results in massive delays that cut into business revenue.
Purchasing e Stamp paper in Tamil Nadu is an easier digital alternative.
- Adhesive Stamps
These types of stamps are labels that can be easily attached to documents & instruments & are available in postal & non-postal variants.
The postal variety is used for mail & communication transactions. The non-postal variant of adhesive stamps include insurance policy stamps, revenue stamps, share transfer stamps, court fee stamps, etc.
Similar to the purchase of stamp papers, adhesive stamps are also purchased by physically approaching vendors. Leveraging online stamp paper in Tamil Nadu works out faster & cheaper for businesses.
- Franking
Franking is another method that involves marking or stamping documents to indicate that they are legally valid & that the applicable stamp duty has been paid.
This method requires businesses to create the necessary paperwork & deliver them to a bank or franking facility. Post paying the stamp duty, the facility marks the document to indicate that the stamping charge has been paid.
To utilize franking for stamp duty payment, businesses typically organize their pre-stamped agreements into batches and transport these to where franking machines are housed. This results in many of the same problems as manual stamp paper purchases such as logistical challenges, business delays, and misplaced documents.
Additionally, the risk of stamp paper fraud is high with franking machines.
By leveraging online e Stamp facilities in Tamil Nadu, businesses can circumvent these challenges and get documents stamped quickly & efficiently.
- Digital Stamping
An improved & efficient method that overcomes these challenges is e Stamping or digital stamping. e Stamping Tamil Nadu business agreements enable a much faster, more secure & efficient alternative for stamp duty payable.
Procuring e Stamp papers online in Tamil Nadu is easier than ever for businesses utilizing digital stamping solutions. Business teams simply need to upload the agreements to be e Stamped onto a portal, pay stamp duty online using digital wallets, and download the e Stamped documents in one go.
The e Stamp papers, which are printed on the agreements and digitally merged, are considered legally valid tender and serve as evidence that the agreement has been executed in Tamil Nadu.
The digitized e Stamping procedure enables businesses in the state to get all their agreements stamped digitally by enabling them to pay the affixed Tamil Nadu e Stamp charges online.
How To e Stamp Documents Online In Tamil Nadu
Paying stamp duty to legalize documents becomes simple with SignDesk’s intuitive dashboard for e Stamping Tamil Nadu agreements. By opting for digital stamping on platforms like SignDesk, businesses can conveniently pay the nominated stamp duty charges & e Stamp Tamil Nadu business documents online in comparatively lesser time.
Step 1: Log into SignDesk
The user has to first log into SignDesk’s online stamping portal.
Step 2:Place stamp paper pre-order
The user places a pre-order for the required number of Tamil Nadu stamp papers. This helps speed up the process.
Step 3:Upload the documents for e Stamping
The user is then required to upload the document that needs to be stamped. Alternatively, he/she can draft the document from scratch with the help of SignDesk’s document templates.
Step 4:Enter e Stamping Details
The user enters the key elements of the process including the names of the parties, stamp paper denomination, document type, etc.
Step 5:Pay Stamp Duty Online
The user pays the specified stamp duty amount online in real time.
Step 6:e Stamping
Once the stamp duty is paid, the uploaded document is merged with the e Stamp papers for Tamil Nadu state to make it legally valid & binding.
Step 7:eSign the stamped documents
After completing the e Stamping procedure the user can optionally invite parties to electronically sign the document.
Step 8:Download the documents
The user can proceed to download the digitally signed document that is merged with the e Stamp paper Tamil Nadu.
e Stamping Plays a Key Role In Streamlining Stamp Paper Procurement
e Stamping Tamil Nadu agreements offer a wide array of benefits for businesses to streamline & accelerate their operations. The digital approach enables a more efficient way for companies to carry out their document stamping workflows. Some of the advantages digital stamping offers are:
- Improved Stamping Speed & Efficiency: Digital stamping paves the way for a faster & more efficient way of stamping business documents, which is usually required to be carried out on a daily basis. e Stamping brings down the time required to stamp these documents to a minimal 5-10 minutes.
- Elimination of Manual Stamp Paper Procurement: With e Stamping, businesses in Tamil Nadu need not have to rely on vendors or staff to procure physical stamp papers on time.
- Stamping Fraud & Risks Nullified: The risk of fraudulent activities as well as manual errors concerning business document stamping is completely eliminated when companies adapt to the e Stamping process.
- Documents Can Be Stamped In Bulk: Through digital stamping, businesses can create/upload multiple documents for stamping in one go. This saves a lot of time & effort that would be needed to get documents physically stamped one after another.
- Effortless Management of Stamping Workflows: Businesses can manage their stamping operations more easily with features like online document status tracking offered by e Stamping Tamil Nadu document solution platforms.
e Stamping In Tamil Nadu Is Hassle-Free With SignDesk
Managing documents, paying stamp duties, & getting documents stamped can now be completely online with SignDesk’s digital stamping solution for businesses in Tamil Nadu. Our award-winning e Stamping solution caters to corporate stamping requirements & enables them to get their agreements stamped in minutes.
e Stamping Tamil Nadu documents enables firms to pay stamp duty online & complete their stamping operations online from end to end. It completely eliminates the need for traditional stamp papers & allows businesses to complete their stamping processes through online stamp paper-Tamil Nadu jurisdiction.
Book a free demo to see how digital stamping can introduce efficiency in carrying out document stamping for any business.