Gift of residential flat from son to mother
Mehta
(Querist) 27 December 2016
This query is : Resolved
(1) Does Gift of flat located in Mumbai,Maharashtra from SON to MOTHER attracts any stamp duty & registration charges ?
(2) Is registration mandatory for such a gift ?
Thanks
Mehta
email: ca.ysmehta@yahoo.com
Adv Akhtar Ali Sheikh
(Expert) 28 December 2016
Son to mother 2% of market value - stamp duty.
Registration fee 1% of mv or 30000 max.
Ms.Usha Kapoor
(Expert) 28 December 2016
Akhtar Ali Sheikh quoted the correct fatigues.
Rajendra K Goyal
(Expert) 28 December 2016
Stamp duty differ from state to state, discuss / consult local registrar office / local lawyer.
Kumar Doab
(Expert) 28 December 2016
The inputs have been given to you.
Your local counsel can help you to register the gift deed for Flat.
Mehta
(Querist) 29 December 2016
Hi Adv.Akhtar, thanks for the reply. And if sister giving gift of flat (located in Mumbai,Maharashtra) to brother then what is stamp duty & registration fee ?
adv.bharat @ PUNE
(Expert) 29 December 2016
The same is applicable as given in above.
You can also purchase Rs.500/- stamp paper and do it notarised.
Will u appreciate this answer by giving like on mY LCI Profile?
Rajendra K Goyal
(Expert) 30 December 2016
Expert adv.bharat @ PUNE,
Notarized gift deed of immovable property is not legal / valid.
Guest
(Expert) 30 December 2016
Sec 123 of Transfer of Property Act Clearly states Unregistered Gift Deed is Not Legally Valid.
Guest
(Expert) 30 December 2016
Well advised by Senior Expert/Advocate Mr.Rajendra K.Goyal
Guest
(Expert) 30 December 2016
Even in the Courts the Advocates would Address Each other as" Learned Counsel of other side"
Guest
(Expert) 30 December 2016
Author Mehta is here by advised NOT to Address the Learned experts/advocates here with "HI"
Dr J C Vashista
(Expert) 02 January 2017
Prima facie it is an academic query and author is disrespectful to the experts, NO REPLY.
Mehta
(Querist) 02 January 2017
Expert Vashistaji, sorry if I have heart feeling of any expert in the discussion but there is no intention of mine to disrespect any expert and another clarification I would like to add here: it is not an academic query, it's my actual query and I am going to follow the expert's opinion to resolve my issue. Thanks all experts for their valuable opinions.
Mehta
(Querist) 02 January 2017
The last clarification I need from the experts regarding "mention of PAN No in the gift deed by Donor & Donee". Is it mandatory to mention PAN No of both party ? If donee does not have PAN No ?
Dr J C Vashista
(Expert) 03 January 2017
It is not mandatory in case of "donee".
Rajendra K Goyal
(Expert) 03 January 2017
Agree with the expert Dr J C Vashista.
Kumar Doab
(Expert) 03 January 2017
Agreed with the Dr J C Vashista.
Rajkumar Tiwari
(Expert) 25 April 2017
1) As per the amendment in Maharashtra Stamp Act in 2015 Rs. 200/- is the Stamp duty payable for Gift of residential and agricultural property between blood relation, hence in your case stamp duty payable is Rs.200/-
2) Yes registration of gift deed is mandatory, and according to the Notification dated 31st March, 2016, No.RGN-2016/51/CR-11/M-1 Registration Fees is payable on Gift of residential and agricultural property between blood relation is Rs.200/- from 1st April, 2016.
Kumar Doab
(Expert) 25 April 2017
Thanks for sharing the exact notification, to Mr. Rajkumar Tiwari.
