Stamp duty on gift of movable property

No, Stamp duty is payable only on immovable property. U may execute a confirmation of gift deed on stamp paper of Rs. 20/-.

Noooo.. stamp duty is payable only on immoveable property.

Can you please elaborate the provisions under which stamp duty is not chargeable on gift of movable property. As the Stamp Act applicable for Gujarat provides for levy of duty on gift of movable property.

AS PER PROVISIONS OF TRANSFER OF PROPERTY ACT ANY PROPERTY WORTH 100 OR MORE IS COMPULSORILY REGISTERED.

Mr. Sankaranaryanan,

As per Bombay Stamp duty Act, 1958, sec-2 clause- (pa) 'movable property' includes standing timber, growing crops and grass, fruit upon and juice in trees and property of every other descripttion, except immovable property, by which any right or liability is or is purported to be created, transferred, limited, extended, extinguished or recorded;

In view of the above, in my opinion, in absence of explanation/implication of cash be classified as 'property' in the Bombay Stamp Duty Act, 1958, cash may be treated as property. However, if you have anything in your opinion, would appreciate if you share the same with us.

Thanks !

regards,

A.S. 
 

forgot to mention that my opinion is based on the definition of the "movable property" and absence of the meaning of "property of every other descriptttion". The scope of the said phrase is wider from the view of interpretation.