Indian as a colonial state (contd).
In India, we have to sign most legal agreements on stamp paper. Why?
From the Indian Stamp Act of 1899, an act of British colonial rule. Indian laws, judiciary, legislative and administration continues British rule.
In India, we have to sign most legal agreements on stamp paper. Why?
From the Indian Stamp Act of 1899, an act of British colonial rule. Indian laws, judiciary, legislative and administration continues British rule.
Why was this "Stamp Duty" levied?
"Stamp Duty in England was introduced in 1694 for four years to provide the country funds to continue one of the many wars against France."
For Indians it's like "ringa ringa roses." Stuff we do without a clue.
stampcalculator.co.uk/stamp-duty-his…
"Stamp Duty in England was introduced in 1694 for four years to provide the country funds to continue one of the many wars against France."
For Indians it's like "ringa ringa roses." Stuff we do without a clue.
stampcalculator.co.uk/stamp-duty-his…
The enforcement of the Stamp Act 1765 by British colonies in America was a major factor in the colonies' war of independence from Britain.
But for securities and property sales, the UK itself has abolished stamp duty. But India has continued it even *after* independence.
But for securities and property sales, the UK itself has abolished stamp duty. But India has continued it even *after* independence.
Stamp duty is another area of friction in transaction. Friction slows down the economy. We just line up buying stamp papers, imposed by an incomprehensible English legal class.
UK has now even abolished it for property sales below 300,000 £ (₹ 3 Cr).
businessinsider.com/government-abo…
UK has now even abolished it for property sales below 300,000 £ (₹ 3 Cr).
businessinsider.com/government-abo…
India continues to make it very onerous for small businesses and ordinary people. The Indian bureaucracy is colonial. It was never designed to serve the people, only to lord over the natives. This attitude continues today.
https://twitter.com/sankrant/status/908263271307735041?s=20
Real estate is still understandable. What about other agreements? Why continue a 1899 law?
https://twitter.com/Mahaakaala001/status/1344244254227324930?s=20
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