The Court Fees (Delhi Amendment) Bill 2012 seeks to completely do away with stamp paper of all denominations and shift to electronic-stamping facility, a moved aimed at ensuring hassle-free transactions and prevent fraudulent practices.
The Bill, which will become a law after issuance of notification, provides for 10-fold hike in court fees which were last amended in 1958. The revenue collection from court fees will go up to Rs 500 crore annually from current Rs 50 crore when the new rates come into effect.
Currently, e-stamping is applicable to values of Rs 500 and above but government has now decided to abolish stamp papers of all denominations, which will mean people will have to pay stamp duty for sworn affidavits, agreement of tenancy, mortgage deeds, power of attorney and other instruments through e-stamping facility.
Revenue Minister A K Walia said in order to rationalise the court fees and collection by electronic-court fees, it was decided to amend section 26 of the Court Fees Act 1870.
