Why we need stamp papers?
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In India, stamp papers are required for executing legal documents to ensure their validity and authenticity. These papers serve as a form of tax paid to the government for the transaction's legitimacy. Commonly used in agreements, affidavits, deeds, and bonds, stamp papers come in various denominations, reflecting the value of the transaction or document. The Stamp Act of 1899 governs the use and types of stamp papers, which can be purchased from licensed vendors or through e-stamping services. Proper stamping of documents is crucial, as unstamped or insufficiently stamped documents can be deemed inadmissible in legal proceedings.
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