In a landmark order, the HC Taxing Master ruled that legal heirs seeking transfer of a flat in a CHS after the death of the owner need to pay court fees on the value of the share in society and not the market value of the flat. In a CHS, each flat owner is issued five shares valued at Rs50 each.
This order will benefit persons applying for a succession certificate for a flat in a CHS as till now, they were required to pay a court fees calculated as a percentage of the market value of the flat. The court fees for a succession certificate calculated under the Indian Succession Act is zero for an asset valued less than Rs1000. For an asset valued between Rs 1,001 and Rs 50, 000, it is 2 per cent, for Rs 50,001 to Rs 2lakh it is 4 per cent, between 2lakh and Rs3 lakh it is 6 per cent and above Rs3 lakh it stands at 7.5 per cent with a maximum ceiling of Rs 75,000.
Can anyone confirm to me if this is true and when the court passed that judgement.
