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Stamp Paper for Money Gift

(Querist) 09 March 2018 This query is : Resolved 
What should be AMOUNT of STAMP PAPER if a person is GIFTING MONEY via cheque/RTGS to his relative. Both parties belong to Delhi.
kavksatyanarayana (Expert) 09 March 2018
It does not require stamp if given through net banking or check or DD. If you want to give through a registered document, then the duty is leviable as per stamp act. the stamp duty rates varies from one state to other state. consult in local subregistrar office.
Dr J C Vashista (Expert) 11 March 2018
@ Rohit Jain,
Are you executing a "GIFT DEED" for the money being transferred? If so, you will have to pay stamp duty as well as registration charges, otherwise, nothing required.


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