Stamp duty payment
VISHAL
(Querist) 09 March 2014
This query is : Resolved
hi all we have a non agricultural land about 17 gunthas based in raigad district maharashtra the land is declared industrial by midc recentely now we are going to make gift deed we want to know how much stamp duty we will be required to pay for this deed for market value of Rs 55000 per gunthas? i tried to calulate it through available on line calculaters but they are only for mumbai/thane based properties so pls help me/
R.V.RAO
(Expert) 10 March 2014
The Bombay Stamp Act applies to the entire State of Maharashtra.
in maharashtra ,the stamp duty on Gift (other than a settlement, will or transfer)
is the Same duty as on conveyance.
In case of a gift to spouse, brother, sister, lineal ascendants or descendants @ Rs. 10 for every Rs. 500 or part thereof (approx. 2%) of market value
source:http://www.bcasonline.org/knowledge/Referencer/stampduty
so stamp duty can be taken as approx.2% of market value for gift/conveyance .
R.V.RAO
(Expert) 10 March 2014
Thanks.sri jagga rao garu
T. Kalaiselvan, Advocate
(Expert) 11 March 2014
Mr. R.V.Rao has given some valuable tips and also has given the link name,you can browse through it for further details.
R.V.RAO
(Expert) 12 March 2014
Thanks.sri kalaiselvanji
