Gift deed

Tejaswini (Querist) 21 October 2016 This query is : Resolved
hi, I am from Maharashtra, the question is, a gift deed is to be made in favour of sister-in-law by her brother-in-law as the brother is expired i.e. devar apne bhabhi ke naam ghar karna chahata hai ..bhabhi ke pati uani mere bhaisahb gujar chuke hai..can it be done?? and what will the procedure for it i.e. stamp duty and other necessary charges.. kindly help me in this regard.

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Kumar Doab (Expert) 21 October 2016
Owner can gift.
Stamp duty is state subject.

The relation might be or might not be covered in list of relations for waiver of stamp duty etc.

Check with SRO.

Kuummaar AS (Expert) 21 October 2016
Tejaswini,

GIFT DEED CAN BE MADE. CHARGES WILL BE AS FOLLOWS"

1. STAMP DUTY AS APPLICABLE IN MAHARASHTRA, WHICH WILL BE CALCULATED ON THE CIRCLE RATES APPLICABLE ON LAND AS WELL AS ON THE BUILT UP PORTION.

2. REGISTRATION CHARGES APPLICABLE AT THE PLACE WHERE PROPERTY IS SITUATED

Dr J C Vashista (Expert) 22 October 2016
Well advised by experts, I agree; the gift can be registered on payment of stamp duty as applicable.

Ms.Usha Kapoor (Expert) 22 October 2016
There is no stamp duty in Maharashtra in case of specified relatives gifts under Income Tax Law. You register the gift deed in favor of your Bhabi.If you appreciate this answer please click the thank you button on my profile.

Rajendra K Goyal (Expert) 22 October 2016
Gift can be done.

The relation does not come under stamp free list, hence stamp fee has to be paid.

You can gift it to your father or mother, stamp fee 200/- + registration charges required.

Your father can gift it to your widow sister in law, stamp fee 200/- + registration charges has to be paid.

Kumar Doab (Expert) 22 October 2016
Mr. Goyal has checked the list of relatives and updated you.

Kishor Mehta (Expert) 22 October 2016
Madam,

[1] A person can gift a property legally owned by him to anyone.
[2] In Maharashtra there is a concessional stamp duty of Rs.200/- when the gift is given to a member of family consisting of:
Husband, wife, son, daughter, grandson, grand-daughter, wife of deceased son, of the donor.
[3] In your case this concessional stamp duty of Rs.200/- does not apply.

Good Luck,
Kishor Mehta

Tejaswini (Querist) 22 October 2016
Thank you all..for your valuable suggestions.

Kumar Doab (Expert) 22 October 2016
Mr. Mehta has also clarified as per list of relations.

You are welcome.

adv.bharat @ PUNE (Expert) 23 October 2016
U need to pay 6 % stamp duty since the relation is not given in the GR.

Hence full stamp duty is to be paid.