How to transfer a property to public charitable trust?
CA.S.Selvakumar
(Querist) 05 May 2015
This query is : Resolved
Dear Friends,
What are all the ways with reduced Stamp duty value available to transfer of immovable property to Public Charitable Trust?
Please give your views
Rasik Dagli
(Expert) 06 May 2015
Many States have their own Public Trust Act. You have not stated your State where Trust is operating. You have to follow the procedure prescribed in State Act.
Rasik Dagli
Anirudh
(Expert) 06 May 2015
Dear Mr. Dagli,
With due respect - the query is not whether what procedure is to be followed for forming a Trust. The query is whether stamp duty is payable when immovable property is transferred to the Public Trust.
The simple answer is YES, stamp duty is payable. There is no way by which one can avoid paying the stamp duty, nor is there any way to reduce the same.
T. Kalaiselvan, Advocate
(Expert) 08 May 2015
Sir, Mr. Dagli did not give a reply about forming a trust, he too had given a reply on your line. The difference is you made the matter more clear than him.
@Author: the stamp duty payable will differ from one state to another, you may enquire the stamp duty payable either at normal rate or reduced rate from the concerned registrar's office.
