Gift deed

Suresh Thadani (Querist) 15 March 2016 This query is : Resolved
In Maharashtra there was a notification allowing gifts of immoveable property between specified family members on the payment of Rs 500 stamp fee (stamp fee and affidavit)

The notification does not cover daughters in law (if the son is alive)

Queries

1. Please confirm if daughters in law are covered

2. Also your recent article by aapkaconsultants.com talks of gifts from HUF being covered - although the notification does not expressly provide for gifts from HUF

the wording in the article is
" If gift deed are made to certain family members or relatives no stamp duty has to be paid. This is usually the case when it comes to Hindu Unified Family or transfer to a spouse"

Please confirm

3. will one gift deed suffice is 50% from each of two donors are gifted to two separate donees or will two separate gift deeds have to be prepared

That is:

Mr A who owns 50% gifts his share to to A1 (his son)

Mrs B who owns 50% gifts her share to B1 (other son)

Thank you

Suresh Thadani

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