Financial Daily from THE HINDU group of publications
Thursday, May 19, 2005
Financial Daily from THE HINDU group of publications Thursday, May 19, 2005 |
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Opinion
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Letters Stamp duty issues
This refers to the newly-designed stamp papers that are being released to avoid a repeat of the infamous duplicate stamp-paper scam. But to effectively curb the menace, stamp-papers should be counter-available on payment through all nationalised bank-branches (even private banks) and post-offices, apart from other government-treasuries by giving them sale-commission thereby abolishing private vendors who often indulge in irregularities such as back-dated sale. The procedure for attesting affidavits written on stamp-papers should be simplified by granting attesting powers to officers of governments and their undertakings, medical and legal practitioners, chartered accountants, and other such categories of responsible citizens. Authorities such as oath commissioners or notaries public who generally attest documents just to charge fees without any proper verification of signatures must be abolished. Madhu Agrawal Delhi *** This is with reference to the article, "Stamp duty: Born four centuries ago and still going strong" (Business Line, May 18). While stamp duty is a good source of revenue for the government, in respect of land deals, it is a major source of black money. Though several steps are adopted to curb such mal practice such as fixing the value of land, some more legal reforms are necessary to plug in the loopholes. Why not do away with stamp paper altogether? Why should money and energy be wasted on redesigning stamp paper especially in the wake of the Telgi scam? The government should take up the reform process of the entire stamp duty issue by amending the required laws if necessary. A. Jacob Sahayam Thiruvananthapuram
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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