Huf
Vipin Kumra
(Querist) 07 March 2012
This query is : Resolved
There is about to be a partition of a HUF. the HUF currently holds numerous assets in the form of immovable property. My question is that will such distribution of assets attract payment of stamp duty in the event of partition of HUF.
Thank You.
Raj Kumar Makkad
(Expert) 07 March 2012
No stamp duty is required to be paid while distribution of a family properties. A family settlement do not attract stamp duty.
Deepak Nair
(Expert) 07 March 2012
Deed of partition shall be registered and attracts stamp duty.
BUT, a family settlement/arrangement need not be registered and no stamp duty is required for the same.
Vipin Kumra
(Querist) 07 March 2012
Thank you so much..
Adv.R.P.Chugh
(Expert) 07 March 2012
Rightly said ..the reason for the same is that a family arrangment does not create,declare,assign,limit or extinguish rights. It's just a compromise. On the other hand a partition deed declares the rights conclusively hence it attracts the provisions for registration and resultant stamp duty.
Adv.R.P.Chugh
(Expert) 07 March 2012
Rightly said ..the reason for the same is that a family arrangment does not create,declare,assign,limit or extinguish rights. It's just a compromise. On the other hand a partition deed declares the rights conclusively hence it attracts the provisions for registration and resultant stamp duty.
Adv.R.P.Chugh
(Expert) 07 March 2012
Rightly said ..the reason for the same is that a family arrangment does not create,declare,assign,limit or extinguish rights. It's just a compromise. On the other hand a partition deed declares the rights conclusively hence it attracts the provisions for registration and resultant stamp duty.
Deepak Nair
(Expert) 07 March 2012
Well explained by Mr.Chugh
Shonee Kapoor
(Expert) 07 March 2012
Nothing left to add
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Shonee Kapoor
(Expert) 07 March 2012
Nothing left to add
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Shonee Kapoor
(Expert) 07 March 2012
Nothing left to add
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Shonee Kapoor
(Expert) 07 March 2012
Is it our net problem, or site is malfunctioning, putting multiple postings????
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Raj Kumar Makkad
(Expert) 07 March 2012
I amend my reply and do agree that section 17 of Registration act requires imposition of Stamp duty even in case of family settlement.
R.K Nanda
(Expert) 08 March 2012
Yes, it needs stamp duty.
Vipin Kumra
(Querist) 13 March 2012
is it finally that stamp duty will be payable in case of transfer of property in the event of partition of HUF.
Please Confirm
Shonee Kapoor
(Expert) 16 March 2012
Yes.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
