gift deed

Querist : Anonymous (Querist) 05 May 2011 This query is : Resolved
sir
whether gift deed by brother to his sister attracts stamp duty in Punjab . If yes wats the rate

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abhay dholakiya (Expert) 05 May 2011
yes u have to pay it

PALNITKAR V.V. (Expert) 05 May 2011
I believe it is 12.5%. but check the stamp duty act prevailing in punjab

Basavaraj (Expert) 05 May 2011
In Karnataka there is no stamp duty payable where Gift Deed executed between close blood relationship.

While registering gift deed value shall not shown in the Deed, hence stamp duty shall not applicable in Karnataka. However, the registration charges shall be payable @ 1000/- to the Government.

Regarding Punjab also there shall be no stamp duty applicable pls check with local advocate once again.

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