Franking?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 October 2013 Dear sir,
I am going to do franking of Deed Agreement
it mentioned Our Company giving 55,00,000/- to produce film to another party
both company is from Mumbai Only.
Pl suggest its Urgent
I am trying to know the details from last 3 days but did not get the proper information
Thanks,
Siddharth

Nikhil Kaushik

Nikhil Kaushik (Expert)
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29 October 2013 1. you need to prepare the agreement on a plain paper.

2. The franking is to be done for amount equivalent to the stamp duty payable under Bombay Stamp act 1958.

3. then go to any bank'r branch with franking services. there are many branches, specially in South Mumbai, Fort area, BSE etc where franking is done.

4. the branch will give you a form to fill up. In this form details of the payer, details of the document, contact details etc are required.

5. you need to submit the form along with the agreement and the duty payable (they accept cash).

6. Once the agreement is franked, the parties can sign it.

Some of the banks offering franking services are:

Kapol Bank
https://www.kapolbank.com/Value_AddedServices.aspx

Vithaldas Chambers, Ground Floor 8, Homi Mody Street, 16, Mumbai Samachar Marg, Fort, Mumbai - 400 001. Tel : 2204 6204 / 05, 2204 6212 , Fax : 2204 6223.

Bharat Cooperative Bank

Office No 45/47, Mind Chamber Building , Mint Road, Modi Street, Fort, Mumbai

HDFC Bank Fort Branch

Querist : Anonymous

Querist : Anonymous (Querist)

29 October 2013 Thank You Sir,
I got the information that we have to pay
@ 0.5% on Rs,55,00,000/- (It means Rs.27500/-) is it right amount.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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29 October 2013 are you giving this amount as loan or investment in shares?

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