Stamp duty at concessional rate
Suresh Thadani
(Querist) 24 October 2015
This query is : Resolved
The Maharashtra Govt has agreed to levy stamp duty at Rs 200 with an affidavit on Rs 500 for inter family transfers
Will this concession be denied in case consideration is paid for the transfer i.e the person receiving the property needs to show consideration paid for protecting his IT capital gains exposure
Hemant Agarwal
(Expert) 24 October 2015
1. "IF" you are saying GIFTED property, "THEN" Gift has to be always "free of any consideration, whatsoever". Hence an consideration or internal arrangements shall attract full Stamp Duty of 5% and all Tax parameters shall be applicable.
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kavksatyanarayana
(Expert) 24 October 2015
@author, only sale deed i.e. you have to buy property from any person including blood/near relative. if you get the property by means of gift deed for consideration, the stamp duty attracts in full (with other tax duties) that rate will not be considered.
Rajendra K Goyal
(Expert) 28 October 2015
Gift is not associated with monetary consideration paid.
