The Covid 19 pandemic engulfed the globe and severely affected economic activity and the way business was traditionally conducted on others. This necessitated the search for new forms of online activity, while ensuring that social distancing standards remained respected. One of the questions we are often asked is how documents can be executed and stamped during a blockage. In this note, we will outline the online process of document execution in Karnataka state. Under the Indian Stamp Act of 1899, stamp duty must be paid as a measure to cover and track all transactions. Therefore, stamp duty works almost as evidence of the conclusion of the agreement and that it took place. It is a valid legal person in court as evidence in the event of a dispute. The last change to the Indian Stamp Act came in 2016 in the form of debt recovery from the 2016 Act. If you are buying a new property or selling an investment, then stamp duty is definitely something you need to know. If you don`t know all the legitimacy regarding the stamp tax and its application, don`t worry, because we`ve covered you. Here`s a look at everything you need to know about stamp duty and in which you have to pay it. Under the Indian Contract Act of 1872, a contract is valid and can be applied if it meets the requirements of a valid contract, i.e.
offer and acceptance, free consent, legitimate purpose, contractual capacity and jurisdiction, legitimate consideration and the objective of law. Electronic contracts are contracts entered into through a type of electronic communications such as e-mail, internet and fax and Section 10A of the Information Technology Act, 2000 (“Information Technology Act”), confirms the validity and applicability of these contracts. The electronic agreement after execution is stored/registered by the exporting parties in electronic form and is considered an electronic stolisation under the Information Technology Act. Indian courts recognize the probative value of electronic records under Section 65B of the Indian Data Information Act, 1872 (“Evidence Act”). According to a July 2020 report, the Tamil Nadu government should reduce stamp and registration fees for all leases over 12 months. This is one of the conditions set by the World Bank for the financing of the housing sector strengthening programme in Tamil Nadu. Once you have registered with us, there should be nothing else waiting for you, unless your project is ready. However, in this case, we can help you pay the stamp duty and get the document printed on a stamp paper.