AMOL BAGADE 22 June 2016

Gift deed or sale deed

Dear Sir/Madam,

i have purchased a property(FLAT) in the name of my cousin brother in 2004 in the city of Pune,Maharshtra, which i wish to transfer in my name & my wife's name.The flat does not have any loan on it.

I wish to know that which is the better option while transferring the property in our name ..Is a GIFT DEED relevant or Shall we go for a SALE DEED ?... In both the cases the consideration value will be Rs 0 and i am ready to pay the stamp duty as per governments rules and regulations

please suggest and reply with expert comments

Regards

Reply Follow

4 Replies

Advocate Kappil Cchandna (Expert Bail & Criminal Defence Lawyer at Delhi Supreme Court of India) 22 June 2016

Sir, Gift deed is better only if there is love and affection, because it can be challenged if the circumstances does no justify the love and affection ... Warn Regards Kapil Chandna Advocate 9899011450

Kumar Doab (FIN) 22 June 2016

Prefer sale deed.

Avoid Zero value.

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 22 June 2016

Since both the parties are in relation.so gift deed is good for even reduction of stamp duty

AMOL BAGADE 22 June 2016

Is it OK if the consideration value is Rs 1/- Also plz suggest if there is any tax applicable to my cousin if he transfers/sell the property in our name for a total consideration amount of Rs 1

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