Transfer of property

SK Gupta (Querist) 15 August 2013 This query is : Resolved
Dear Expert !

When I was unmarried I purchase a land in the name of my mother to save some amount in stamp duty. All the payment made to party through my saving account.

Now, my mother want to gift/transfer this land to me or my wife. We are living in Mohali (Punjab) and land is also located in Mohali dist.

My question is, is there any way by which we can save the stamp duty, kindly suggest.

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Devajyoti Barman (Expert) 16 August 2013
No, you can not. You have to pay the stamp duty, If you make the gift deed then the stamp duty is less.

Rajendra K Goyal (Expert) 16 August 2013
For gift the Stamp Duty is comparatively less. your mother can make a registered will.

Dr J C Vashista (Expert) 16 August 2013
Besides a will {applicable only aftter death of testator) your mother may relinquish her property,most economical deed, next to will and that too during her life time.

Raj Kumar Makkad (Expert) 16 August 2013
If you want to become owners during the life time of your mother then you shall have to bear stamp duty on gift deed.

Devajyoti Barman (Expert) 16 August 2013
otherwise go for Will.

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