Stamp Paper for Money Gift

rohit jain (Querist) 09 March 2018 This query is : Resolved
What should be AMOUNT of STAMP PAPER if a person is GIFTING MONEY via cheque/RTGS to his relative. Both parties belong to Delhi.

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kavksatyanarayana (Expert) 09 March 2018
It does not require stamp if given through net banking or check or DD. If you want to give through a registered document, then the duty is leviable as per stamp act. the stamp duty rates varies from one state to other state. consult in local subregistrar office.

Dr J C Vashista (Expert) 11 March 2018
@ Rohit Jain,
Are you executing a "GIFT DEED" for the money being transferred? If so, you will have to pay stamp duty as well as registration charges, otherwise, nothing required.

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