UP Cabinet Declares Stamp Worth ₹10,000 to ₹25,000 Illegal, To Be Phased Out.
In a significant decision, the Uttar Pradesh cabinet has declared stamp papers of ₹10,000 to ₹25,000 illegal and announced that they will be completely removed from circulation. The move aims to curb fraud, prevent misuse, and streamline financial and legal transactions in the state.
Key Highlights of the Decision:
✔ Stamp papers of ₹10,000, ₹15,000, ₹20,000, and ₹25,000 will no longer be valid.
✔ The decision is intended to reduce illegal transactions and fake stamp paper rackets.
✔ The government encourages online and e-stamping to promote transparency.
✔ Stamp papers of lower and higher denominations will still be available for legal transactions.
Impact of the Decision:
✔ Property and Business Transactions – People involved in real estate, contracts, and business deals will have to use alternative denominations or opt for e-stamping.
✔ Legal and Financial Agreements – The move aims to make documentation more transparent and traceable.
✔ Prevention of Fraud – The government hopes this step will eliminate counterfeit stamp papers and scams.
Stamp Papers Why This Move?
The misuse of high-value stamp papers has been a concern in Uttar Pradesh. Fake stamp rackets have led to huge financial losses and legal complications. By phasing them out, the government intends to simplify transactions and encourage digital processes.
What’s Next?
The state government will issue detailed guidelines on how individuals and businesses should transition to new stamp duty regulations. Citizens are advised to verify documents before transactions and use official e-stamping portals to avoid fraud.
