Typically, a franking charge is
a fee imposed by the financing institution or agency for stamping the property papers
that serve as a legal proof of payment of stamp duty and all other necessary taxes levied on the transaction.
How are franking charges calculated?
Franking charges, on the other hand, range from
0.1%-0.2% of the home loan amount
or 0.1% of the property value, capped at Rs. 20,000 on the sale deed of the property. It also varies across states. For example, if you are taking a home loan of Rs.
What is the purpose of franking?
Franking, is a
process of actually getting the documents stamped
. This process includes getting the documents marked or stamped, indicating that the documents are legal and the stamp duty levied on the documents has been paid.
Where is franking done?
Franking or e-stamping is a mode employed by the state government to collect stamp duty levied on execution of documents of various transactions. Franking is done at
sub-registrars’ offices
.
Is franking mandatory?
It is
mandatory to pay stamp duty for a legal document
and franking is one of the ways of getting the legal document stamped.
What is the validity of franking?
Only under Section 52 B(a) of The Bombay Stamp Act 1958, prescribed the period of
six months from the date of purchase
of Stamp Paper or delivery of Stamp Paper after which the Stamps become invalid and it can’t be used after that.
Is franking done in post office?
2. Who can use Franking Services ? Any customer having an registered account on IndiaPost site, can use Franking services on IndiaPost Site. Alternatively
Franking Services are available at selected Post Offices also
.
How is stamp duty calculated?
The cost of stamp duty is generally
5-7% of the property’s market value
. Registration charges tend to be 1% of the property’s market value. As such, these charges can run into lakhs of rupees.
Does HDFC Bank do franking?
About Government Sector Services
Reduce the stress of visiting several offices when you pay stamp duty through
franking
at select HDFC Bank branches, such as Mumbai’s Fort branch and Ahmedabad’s Navrangpura branch.
How can I do franking online?
- Step-1. Just fill a form in our website.
- Step-2. Reveiw details and confirmation.
- Step-3. Doorstep Delivery.
Can franking be backdated?
As far as my knowledge
goes you can not do franking
( of to day) with a back dated DEED. Since you have registered with ICAI there is no problem but, you have to re do it.
What is difference between notary and franking?
Wheras notorisation of the document means signing the document in front of the notary.
Franking is the same value as Stamp-paper
u buy either stamp-paper or franking the document in respective bank & notarization is the process where Notary identified that said document is sign before him by the said executor/s.
Why is it called franking?
Franking, term used
for the right of sending letters or postal packages free of charge
. The word is derived from the French affranchir (“free”). Members sent and received letters for friends, all that was necessary being the signature of the peer or member of parliament in the corner of the envelope. …
What is franking in CA Articleship?
23 February 2021 Franking is
a technique of printing a mark on a document indicating that the stamp duty is already paid
.
What is franking in loan?
Franking
proves that your documents are legal
. When you approach a bank or a Franking agency, they affix your agreement paperwork with a stamp or denomination, using a franking machine, thus indicating that your Stamp Duty is paid. Franking charges are applied on both Home Loan and property sale documents.
How long is stamp paper valid?
Validity and expiry of old stamp paper:
As per Section 54 of the Indian Stamp Act, if you do not have any immediate use of a stamp paper, then you can deposit it back to the collector
within six months
from the date of purchase and take back your money as a refund after deduction of 10 paise per rupee.
