LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Jaypee Purohit (Tax Consultant)     28 June 2008

Stamp Duty in MP


Mr A & B (both brothers) are having undivided equal share in land situated at Raipur (MP). Now after dispute in the family an arbitrator was appointed  and as per award of the arbitrator a family settlement DEED was executed and was signed by  all the family members at Mumbai according to the DEED the land has been alooted to youger brother i.e. B. If a Gift DEED is executed by elder brother A in favour of youger brother B gifting his undivided share in the Land, what stamp Duty it will attract as per MP Laws? or alernatively what documents should be executed to transfer the land so as to either avoid the Stamp Duty or it's impact is minimum?

Thanx and regards, J P Purohit Tax Consultant, Mumbai.   


Learning

 1 Replies

podicheti.srinivas (advocate/legal consultant)     30 June 2008

YOU MAY RELINQUISH YOUR SHARE IN FAVOUR OF YOUR BROTHER,BY WAY OF A RELINQUISHMENT DEED ,TO THE BEST OF MY KNOWLEDGE OUR STATE CHARGES ONLY  1.5% stamp duty on the value of the property.


you have to approach an advocate in your state and get the document prepared and get the stamp duty to be paid verified by an advocate to avoid unforeseen circumstances in the future


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register