Dear Experts,
I want to transfer self-acquired immovable property to my HUF of which I am the Karta. I have 1 son and 1 daughter. I am resident of Hyderabad, Andhra Pradesh.
I have been advised by a lawyer that I can transfer the property by executing a "Deed of Declaration". He was of the opinion that such deed does not required to be registered as this declaration is primarily from Income Tax viewpoint.
If I have to transfer property to HUF through registered gift deed, registration & stamp duty is quite high (around 3%) in Hyderabad.
Request experts in the forum to advise if transfer through unregistered "Deed of Declaration" is acceptable. Please send draft deed of declaration for making the transfer.
- Bala
