The collection of stamp tax duty has always been one of the credible sources for collecting revenue in Punjab. The stamp duty is collected by the Board of revenue. The process of collecting the stamp tax duty was fully flawed and had many loopholes. But recently, The Punjab Information Technology Board (PITB) has introduced the process of e-stamp.
The system of estamp Punjab has entirely renovated the stamping process which was a long delaying process and took more than 2-3 days priorly. But now with the introduction of estamp that tiring process is shrunk and is just a matter of a few clicks.
The system introduced by PITB has eased the process of purchasing high-value non-judicial and judicial stamp papers. As of now the value of stamp duty is calculated depending upon the data that is provided by the buyer in terms of area, location, and status (either commercial or residential) all these factors add up and the value of stamp tax is calculated.
Apart from the estamp, the District Collector Valuation or commonly known as the DC Valuation has also been incorporated into the system where names of the buyer, seller, and the person through whom stamps are being purchased are entered into the system along with their CNIC numbers.
The PITB has initiated a verification procedure for citizens by setting up the database for estamp. To make the process of estamp more convenient the estampping project team has instigated the training of registrars, stamp vendors, deed writers, and other relevant stakeholders to facilitate the citizens fully and error-free.
Most of all a mobile app supported by both IOS and Android is being developed for auditors so they can easily verify e-Stamp paper and Challan-32-A. All such modern initiatives are leading Punjab towards a modern and tech-savvy Punjab.