If Brother transfers his owned flat in the name of sister through Gift Deed, then
1. Whether stamp duty is applicable
2. If yes, how much
3.whether sister (donee) will have to pay Wealth tax ?
4.whether sister can sell such flat whenever she wants, I.e. even immediately after she becomes the registered owner or is there “lock-in “period for sale of property acquired through Gift Deed?
5. When such property is subject to application of Wealth Tax?
Stamp duty is a State subject which differs from a State to another.
In Delhi stamp duty for gift deed is same as Conveyance Deed.
Findout from local sub-registrar / lawyer.
