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Amit Kadam   17 November 2020

Stamp duty for cash/cheque gift deed

Aunty is gifting Rs.1000000 through cheque to her nephew (brother's son). How much stamp duty will be required to pay. I have heard that for blood relation it is Rs.200, for other relatives it is. 3%, and for third party it us 5%. Both doner and donee are leaving in mumbai city. Please guide.


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 1 Replies

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108)     17 November 2020

1. There is no Stamp Duty on "movable properties" between immediate blood relatives.  A simple affidavit declaring the Gift by Cheque, is sufficient for Income Tax purposes.

2. However in your case, Gift Tax shall be attracted since Gift is between non-immediate-blood relative.

Keep Smiling .... Hemant Agarwal
VISIT: www.chshelpforum.com

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