It is mandatory to pay stamp duty for a legal document, and francization is one way to stamp the legal document. On the other hand, Franking is a process of sealing ownership documents. When an applicant goes to a bank or an approved payment agency, a mark or unit value indicating the payment of stamp duty is affixed to the contract document. Franking machines, which are usually installed in the sub-registrar`s office in the state, are used to secure documents. The frankie procedure replaced the earlier method of printing the agreement on non-judicial papers. But the trial opened doors to stamp paper fraud like the sensational case with Abdul Karim Telgi. Today, e-stempeling is also an alternative to francisation, which is error-free and controls counterfeits. This is why e-stamping has become popular on online franking, as it is a safer and more inviolable method of paying stamp duty. The transaction can be easily carried out online with the Internet bank. Those who have not activated the online bank can use a challan bank to pay stamp duty. Enter the necessary details of the documents that need to be francized and find an easier way to frenchize the documents with the type of relief. Before executing the contract (signing documents), you must take it to an authorized bank or frankie agency. The Inspector General of Registration and Stamp Controller is No.
6/14/106/2014 DATE: 15/03/2014 has been to say that the francisation of the rule must be 5000/- for a single document and cannot be francized through the Rs 5000/- either with the public stamping body or with authorized banks or their agents. Read the order…. Loan contracts must also be frank. The francisation tax, of about 0.1%, must be paid beyond the land duties on the loan contract. This means that a total of 0.2% – at least – will be spent on authenticating your documents. If you use a home loan to purchase a property, a buyer will have additional costs. Francization fees are one of the many hidden fees that a homebuyer must pay at the bank, with the exception of the Equated Monthly Rate (EMI) amount. This payment is made during the stamp of the real estate securities.