Indian Stamp act amendment bill to be Introduced

The Union Budget 2011-12 proposes to amend the Indian Stamp Act. Presenting the Budget in Lok Sabha Finance Minister Pranab Mukherjee said that a bill will be introduced shortly to amend Indian StampAct, 1899.

The Minister said that while the initiatives to introduce a modern and people friendly e-stamping facility have been taken five years ago only five states have introduced this system. A new scheme with an outlay of Rs. 300 crores will be launched to provide assistance to States to modernize their stamp and registration administration and roll out e-stamping in all districts in the next three years.

Source : Equity Bulls

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