What is Franking ? Why Documents Need to be Franking ? This is important Question in Present Time. Everyone Ask What is Franking ? Why Documents Need To Be Franking? Only Banks Can Do Franking Or Other Firm Are Given Authority ?. Today we are providing all solutions of these question and Also tell full details of franking. we also provide What is the difference between Franking and Stamping. Every CA,CS,CMA and Another Professional Student Want to Know for what is Franking Because this is common word in present time. Principles Send articles for Franking of the Documents but articles or trainees not know what is franking now you can scroll down below and check complete details regarding “What is Franking ? Why Documents Need to be Franking ?”
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What is Franking ? Why Documents Need to be Franking ?
Franking involves stamping. Oxford meaning of Franking is stamp a mark to indicate that amount has been paid.
Everyone want to know the difference between Franking and Printed Stamp Papers. If it is true, NJS ( Non Judicial Stamp ) Paper can be purchased from the Stamp Vendor and later on you can type on it. Because of Telgi effect Govt brought some changes. You first prepare a document on paper and before signing parties on it, take it to nominated Branch of a Bank pay the stamp duty there and then the bank will put stamp on your document indicating the value of the stamp duty. That is called franking.
FRANKING : This is one of the several methods of indicating the payment of stamp duty. Franking machines are installed in some Sub-Registrar office in the State. These machines frank upto a denomination of 999 rupees. An application indicating the amount of duty to be frank is made to the proper officer authorize under the rules along with the unexecuted typed or printed documents. The necessary amount is paid in cash to the proper officer and the required denomination is franked on the document and return to the applicant.
in Another Words – In so far I know previously the NJSP were printed in Government press and were available with the Stamp Vendors who used to take the same from Treasury but now the Government has authorized the banks and post offices who are selling them after franking the documents.
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