What is Franking of Documents & Why Documents Need to be Franking?
What is Franking of Documents and Why Documents Need to be Franking?
Franking is stamping of documents. Franking is a stamp which indicates that the amount has been paid. In the process of franking we prepare the documents first and before signing parties on it, take it to nominated Branch of bank pay the stamp duty there and then the bank will put stamp on your document indicating the value of stamp duty and it is called franking.
Franking is generally required on legal documents with transactions involving legal agreements, power of attorney, buying, selling or leasing property especially those which involves financial aspect to it. All states in India have their respective state.