jagadesh (engineer) 15 October 2013
i got a partition from my father as well as my brother also got partition. now i wanted to gift my share to brother or my mother. what is the stampduty for this kind of gift to family members. is it costs like sale...... ??
info: i am not married yet.
Kishor Mehta (CEO) 15 October 2013
Sir,
For a gift to a member of the family the applicable stamp duty is @5% of the value of the asset being gifted, apart from the registration charge.
Good Luck
Kishor Mehta
Jairaj (Partner) 15 October 2013
it is different when the donee is a family member. kindly check.
Kishor Mehta (CEO) 15 October 2013
Sir,
Please amend my statement to read: " A gift deed attracts stamp duty @5% of the value of the asset being gifted, and a gift to a member of the family the applicable stamp duty is @2% of the value of the asset being gifted, apart from the registration charge.
Thanks Mr. Jairaj for drawing attention to the inadvertent mistake.
Kishor Mehta
seniorcitizen (i/c) 15 October 2013
It is usually the case, when many advice are offered in a short span, some mistakes might creep in, however it takes a gentleman to own up to his mistake.
Kudos to Mr. Kishor Mehta for accepting an inadvertent mistake.
Senior Citizen
kavksatyanarayana (subregistrar/supdt.(retired)) 16 October 2013
generally the stamp duty is different from state to state. hence where is the property situated.
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