Smart, Secure and future ready stamp duty collection solution is here
B700 Version 2 Tax meter – digital stamp duty collection solution is the latest technology in Secured Revenue Evidencing that helps Banks, financial institutions and government revenue departments in secured advance stamp duty collection and seamless reconciliation.
Built on proven encryption technology that ensures the secure creation and capture of documents and assets. The solution has been enabling citizens to pay stamp duty in a convenient, simple, and highly secured manner.
The designed solution enables prepaid stamp duty collection with zero commission charged by Pitney Bowes making it the most inexpensive way of revenue collection. The solution is designed to make it the fastest way to pay stamp duty, giving the best customer experience to the citizens.
- 2D barcode with embedded Digital Signature
- Online & Offline issuance and verification of stamp duty
- Central Server for effective management & operations
- Online fund uploading and downloading
- Digitally stored transactions
- On demand printing
India’s Top 10 Banks trust Pitney Bowes for secured Stamp duty collection
Pitney Bowes B700 Version 2 Tax Meter Solution enables, top banks, cooperative banks, and financial institutions by automating and optimizing the process of collecting stamp duty. The solution leads to increased efficiency, accuracy, compliance, cost reduction, and improved customer service.
Want to know more benefits of the Pitney Bowes v2 Tax Meter
Easily comply with procurement requirements.
Mitigate the risk of tax fraud.
Enable a streamlined procurement process.
Simple document verification thanks to real-time tracking.
Read the article in Economic Times BFSI to find out how the B700 Tax Meter solution helps to simplify revenue collection and managing stamp papers for banks, financial institutions & revenue departments.
Frequently Asked Questions
What is a tax meter?
A tax meter is a digital solution that enables for stamp duty collection. It enables citizens and businesses to securely generate stamp duty certificates or documents for various legal and financial transactions like property registration, loans certificates, and other financial collaterals.
How does digital stamp duty collection solution differ from traditional stamping methods?
Digital stamp duty collection solution replaces traditional stamp paper with a digital printing capability. Instead of physical stamp papers, generating secure electronic certificates, reducing the risk of forgery and offering greater convenience.
What is stamp duty and registry, and how does it relate to tax meters?
Stamp duty is a tax levied on legal documents, such as property transactions, agreements, and contracts, which is regulated by various State revenue departments. Registry refers to the official recording of these documents. Tax meters, particularly digital stamping solution, facilitate the collection of stamp duty for such transactions as mandated by the respective state revenue departments.
Can I use a tax meter for online payment of stamp duty and registry in India?
Yes, tax meters enable individuals and businesses to make online payments for stamp duty, registry and loans processing in India. This digital process offers convenience and ensures compliance with stamp duty regulations.
What are the benefits of using digital stamp duty collection methods?
Digital stamp duty payment methods offer several advantages, including reduced risk of fraud, faster processing times, convenience of online payment, accurate calculation of stamp duty, and easier record-keeping.
Is digital stamp duty payment widely accepted in India?
Yes, digital and online payment of stamp duty have gained widespread acceptance in India. Many states have adopted tax meter as the preferred method for collecting stamp duty, offering citizens a secure and efficient way to fulfill their legal obligations.
How secure is the process of e-stamping and online payment of stamp duty?
The process of stamp duty collection is highly secure. State Revenue department-approved tax meter solution use advanced encryption and authentication measures to ensure the security and confidentiality of transactions.
Can I use a tax meter for stamp duty and registration for all types of transactions?
You can visit your bank branch to pay stamp duty and generate the certificate. Tax meters particularly digital stamping solutions are designed to facilitate stamp duty payment and registration for a wide range of transactions, including property sales, lease/rent agreements, affidavits, and other legal documents.
What documents are required for stamp duty and registration when using a tax meter?
The specific documents required for stamp duty and registration vary depending on the nature of the transaction. Generally, documents such as sale deeds, agreements, powers of attorney, and affidavits may need to be stamped and registered.
Are there any exemptions or concessions available for stamp duty when using a tax meter?
Some states in India offer exemptions or concessions on stamp duty for certain transactions, such as those involving first-time homebuyers, women, or agricultural land. It's advisable to check with the local authorities or consult a legal expert for information on applicable exemptions.