Hi,
I want to gift a flat in Delhi to my sister-in-law (brothers wife). I have the following queries:
1. What is the Stamp Duty rate ? Is it 4% or less? In Mumbai the rate is 2% in case of property gift to relative.
2. What are the implications of the Budget March 2012, on the Service Tax on Property Registry? Is it same for both sale as well as Gift of property?
3. What is the service tax rate - and for a property of 50 lakhs value (circle rate) what will be the Stamp Duty and Service Tax?
4. Can there be any legal Issue in this gifting?
Thanx in Advance.
Warm rgds
Pankaj
