Companies in 22 states and Union Territories can now pay stamp duty electronically with the government starting a pilot project for facilitating payment of statutory dues online by corporates.
"We have started it (e-stamp) as a pilot project in 22 states and union territories. In another 10-15 days we should be able to make e-stamping fully operational," Corporate Affairs Secretary R Bandyopadhyay told reporters here today.
States and UTs like Maharashtra, Uttar Pradesh, Delhi, Jharkhand, Orissa Tamil Nadu and West Bengal have consented to let the Centre collect stamp money electronically from companies, he added.
Under e-stamping, which is part of Corporate Affairs Ministry's MCA-21 project, firms can pay stamp duty for purposes like hike in share capital, article of association for incorporating a company and memorandum of association.
The initiative is aimed at reducing time consumption and paperwork, Bandyopadhyay said.
At present, stamp duty, levied by states, is paid to the Registrar of Companies.
The rate of stamp duty payable on registration of varies according to respective State Stamp Law.