LAHORE: Punjab Information Technology Board (PITB) Chairman Dr Umar Saif has said that the e-stamping initiative of the Punjab government will enhance revenue as well as save the citizens from traditional fraud in selling or buying their land or property. He said that sponsored by Board of Revenue Punjab, the pilot project will start work in Gujranwala by June this year. Revealing the details, he said that traditionally stamp duty is collected by the Government through the sale of Stamp Papers having different denominations under the Stamp Act 1899. The non-judicial stamp papers worth Rs 1,000, referred to as high-value stamp paper give 95.89% of revenue and are only issued by the District Treasury Offices. These papers are widely used in recording the statements of agreement or the statements deeds related to property sale/purchase. “Currently there is no process available for the verification of the stamp paper being genuine or fake which causes a set back to the government’s revenue collection. To overcome such problems, the PITB has introduced real time solution in form of e-stamping. The main objective for this e-stamping system is to prevent paper and process related fraudulent practices, leakage of government revenues, store information in electronic form and build a central database to make the verification process easy. In new system the electronic stamp papers will be issued through any designated branch of a schedule bank and the citizens will require no multiple visits. The value of stamp duty will be calculated on the basis of data provided by the buyer (area of the land, location, covered area, commercial / residential etc.) and DC valuation tables built into the system. The names of the buyer, seller and the person by whom stamp papers are being purchased will be fed into the system along with their CNIC which will be verified online from NADRA database in real time. After online verification, the requisite Challan form 32-A will be generated based on the provided data, which then will be signed by the citizen and the payment will be submitted through nearby designated bank”, he concluded.
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