The Delhi Assembly has passed the Court Fees (Delhi Amendment) Bill, 2012 which seeks to make a 0-fold hike in court fees and introduction of e-stamping to do away with stamp papers of all denominations. The Bill proposes to introduce electronic-stamping for ensuring speedy and hassle-free transactions. It is also likely to curb all financial irregularities associated with physical stamp papers.
The Delhi Assembly also passed the Indian Stamp (Delhi Amendment) Bill, 2012. This Bill proposes to make an amendment in Article 10 of Schedule I-A of the Indian Stamp Act, 1899, which will help the Delhi Government collect its legitimate stamp duty on increase in authorized share capital by companies. With insertion of Clause c after Clause b of Article No. 10 of Schedule I-A, the Delhi Government would be empowered to invoke 0.15 per cent of the authorized share capital with a monetary ceiling of Rs. 25 lakh as stamp duty in the case of every increase in the authorized share capital of a company.
With the rapid urbanisation in the country, real estate industry and construction industry in India is moving towards rapid growth serving as a vital sector in the Indian economy. It is expecte More
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