regarding tax liable on transfer
R_PVK
(Querist) 17 November 2009
This query is : Resolved
Dear sir
my mother is about to acquire a property worth of 95lakh thru sucession which she intents to change in her name and later wants to distribute as a gift to their children .the query is that when she applies for the name transfer is it that she has have to pay certain amount like stamp duty or transfer fees or is it that she can transfer without any cost
pl suggest
regards
Prabhu
Raj Kumar Makkad
(Expert) 17 November 2009
When she shall gift the property then she will have to pay stamp duty as per rates prevailing in your state.
I suggest not to make gift rather file a civil suit showing a family settlement and get that case decreed. No stamp duty is required in that process.
R_PVK
(Querist) 18 November 2009
dear sir
as per your advice then is it that my mother is not liable to any cost in the first step of changing the property in her name pl confirm
regards
Prabhu
R_PVK
(Querist) 19 December 2009
THANKS
