Stamp Signed Electronically Participation Agreement For Free

There are many digital stamping companies today. A digital stamp, in mail or philately, is similar to a conventional postage stamp except it is resident on or in a computer. A digital stamp can typically be downloaded and printed onto envelopes or packages by authorized individuals.

stamp paper is a process where the stamp duty is electronically paid to the Government. The Government has replaced the traditional paper and franklin stamping method with the digital strategy to ensure a fast and troublefree payment process. Currently, this service is offered in 22 states of India.

Stamp duty is a legal tax payable in full and acts as an evidence for any sale or purchase of a property. The levy of stamp duty is a state subject and thus the rates of stamp duty vary from state to state. The Centre levies stamp duty on specified instruments and also fixes the rates for these instruments.

Stamp duty on E-contracts Stamp duty is normally levied on documents that are physically printed and signed. The Indian Stamp Act, 1899 (?Stamp Act?) contains no particular provisions dealing with electronic records or the stamp duty payable on their execution.

The Indian Penal Code, the Banker's Book of Evidence Act 1891 and the Reserve Bank of India Act, 1934 also contain provisions in relation to such electronic contracts which contain digital signature. Under the Evidence Act, 1872, an e-agreement has the same legal effect as a paper based agreement.

There are two methods by which contract can be authenticated, firstly, by affixing digital signature certificate and secondly by affixing the hand written signature electronically.

An electronic contract which has a signature affixed on it, can be executed and hence a stamp duty would be payable on it as per the current provisions of The Stamp Act, 1899.