Registered gift
g-onestar.
(Querist) 08 September 2011
This query is : Resolved
sir,
my father make a registered gift.but after the gift is done.we found that the market value written in the gift is much less than actual market value.
what i will do now.
will my father have create a freshly new gift?
please its urgent.
ajay sethi
(Expert) 08 September 2011
is the gift deed of immoveable property ?
stamp duty payable depends upon value of gift . has the gift deed been accepted by authorities? is the difference in market value substantial. ?
no fresh gift deed is necessary . you can submit the document for adjudication . pay deficent stamp duty
Shailesh Kr. Shah
(Expert) 08 September 2011
Follow perfect advise of MR. Ajay Sethi.
Advocate M.Bhadra
(Expert) 08 September 2011
If the said deed already released and passed by the Sub-Registrar Office and you have received the same,it need not execute fresh or rectification deed.If the Sub-Registrar office advise to pay the deficit stamp duty you should pay the same.
g-onestar.
(Querist) 08 September 2011
sir,
my gift state that a market value of 9lakh but actual it is about 45lakh.
as well as the detail of my property ie i have 3 storied building,is not written in the gift .only area of the land on which the building is present is written in the gift.
the gift deed is immoveable property which is already registered for about 4 month but mutation is not done.
how to correct the structural details & market value of the gift?
we have contacted a new advocate he has told a new gift has to be done.
Raj Kumar Makkad
(Expert) 08 September 2011
It shall be better for registering gift for structure only mentioning therein the earlier gift so it shall meet the ends.
prabhakar singh
(Expert) 09 September 2011
Yes a new deed is required with reference to earlier so that duty paid earlier may not go waste.
Not only there is danger of impounding but also that property sought to be gifted has not yet been gifted,how can a land alone be gifted where upon there is a building.???
