Gift deed

saket (Querist) 20 August 2017 This query is : Resolved
sir ,
My father's brother spouse (my aunty) had gifted me around 450000 rupees shares by transferring in off market.
whether gift deed should me executed or what amount of stamp duty, and what is the format ..
thanks in advance

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Rajendra K Goyal (Expert) 20 August 2017
She may give you sworn affidavit regarding the details of shares gifted and its market price.

saket (Querist) 20 August 2017
Thanks sir

saket (Querist) 20 August 2017
Can I give in 10 rs stamp paper a gift deed

Guest (Expert) 20 August 2017
If there is any reality in your statement, you may take help of some local lawyer to get the formalities completed. Gift deed attracts stamp duty as prescribed by your state Government. Rs.10 stamp paper may not do.

saket (Querist) 20 August 2017
My local lawyer suggest me to prepare a gift deed in 10 rs stamp paper. Was he right.
He will prepare as per format

saket (Querist) 20 August 2017
Rajender Ji, you are right,my notary told me same to give a sworn affidavit and no need to pay stamp duty

Kumar Doab (Expert) 21 August 2017
You can benefit from the proper advice's advanced to you.............

sanjeev kumar goel (Expert) 21 August 2017
Mr Saket you can get a gift deed from your aunt in your favor specially mentioning the reason for gift, if this is without any consideration. This gift deed you may get on a stamp paper of Rs.10/- or on a simple plain paper in the presence of two witnesses as there is no compulsion of registered gift deed under Income Tax Act. In gift deed you have to mention number of shares, name of company and shares distinguished serial numbers with their face value along with the date of acquisition of these shares by your aunt.

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saket (Querist) 21 August 2017
sanjeev sir,thanks your valuable suggestion. you are really a expert.Keep helping

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sanjeev kumar goel (Expert) 22 August 2017
You are always welcome Mr Saket and its my pleasure that you appreciate my advice. You can contact me at any time for any query related with Income Tax and GST through my E-mail. My E-mail ID is adv.sanjeevgoel@gmail.com and my contact number is 9899390850.
Thanks with Regards

Kumar Doab (Expert) 22 August 2017
It is good to see that some querist do come back to thanks the experts.......

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saket (Querist) 22 August 2017
THANKS SANJEEV JI FOR GIVING YOUR NUMBER .keep helping
MAY GOD BLESS YOU

sanjeev kumar goel (Expert) 22 August 2017
Saket you are welcome and MAY GOD BLESS YOU TOO.

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