gift of immovable property from brother to sister- exempted stamp duty

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Querist : Anonymous (Querist)
07 March 2011

I would like to gift immovable property to my sister by virtue of Gift Deed without any consideration- whether on the same stamp duty is required to be paid as per market value of the property. If not, please also cite some court judgments or relevant sections/articles of law

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Basavaraj (Expert)
07 March 2011

you need not to pay stamp duty if your own sister

A V Vishal (Expert)
07 March 2011

Percentage of Stamp duty is nominal for gifts between blood relations, you have not stated where the property is situate since rate of stamp duty varies from state to state.

A V Vishal (Expert)
07 March 2011

Mr Basavaraj, Please quote under what relevant sections of the Stamp Act is Stamp duty exempt na d in which state is the exemption being provided.

Basavaraj (Expert)
07 March 2011

Mr.A V Vishal, ass per the Karnataka Stamp Act, where the the property is being sold or gifted there will be no stamp duty on that under section 28 of the Act.

it reads is as follows: 1[28. Gift-instrument of,- not being a
settlement (No. 48) or will or transfer (No.52)
(a)Where the donee is not a family The same duty as a Conveyance member of the doner. (Article No. 20) for a market value equal to the market value of the property which is the subject matter of gift:
Provided that where an instrument of gift contains any provision for the revocation of the gift, the value of the property which is the subject matter of the gift, shall for the purposes of duty be determined as if no such provision were contained in the instrument.
2[(b) Where the donee is a member of Rupees One thousand
the family of the donor
576 Stamp [1957: KAR. ACT 34
Explanation: Family in relation to the donor
for this purpose means husband, wife, son,
daughter, daughter-in-law and grand children]2]1

Advocate Bhartesh goyal (Expert)
07 March 2011

you have to pay stamp duty and registration charges on the market value of property.

A V Vishal (Expert)
07 March 2011

Mr Basavaraj,

Can you give me the link to your source of information?

Refer the below link

http://www.karigr.org/faq/std.htm#sd22

A V Vishal (Expert)
07 March 2011

Further, your reply has the answer refer 2[(b) Where the donee is a member of Rupees One thousand the family of the donor.

Basavaraj (Expert)
08 March 2011

pls refer Karnataka Stamp Act. I know that except 2 (b) the donee does not pay any other stamp duty.

My view is that except Rs.1000/- donee need not to pay anthing stamp duty on registration

A V Vishal (Expert)
09 March 2011

Mr Basavaraj

The Rs.1,000 you are speaking about is stamp duty. It cannot be registration charges when you are referring to the Karnataka Stamp Act. Please go through the act coolly. It seems you are confused.

Basavaraj (Expert)
09 March 2011

either stamp duty or registration charges whatever it is charges shall not exceed s.1000/-at the time of registration of Gift deed when Gift Deed is executing with family members.

A V Vishal (Expert)
09 March 2011

Mr Basvaraj,

It looks you are making posts just for sake of arguement. Being a professional you ought to know the difference between two legistations which are enacted separately. It is not what it costs for registering the document. Both are independent of each other. As professionals we have to know law better when we advise our clients.

Basavaraj (Expert)
09 March 2011

My Dear A V VISHAL,

I don't know that you are belongs to which State or Country. Tanks if you are in India.

I would like to take your suggestion or advice or whatever it is, your advice does not make any difference.

Being a professional you also ought to know the difference between the procedure and transactions in various stats.

I have registered lot of Gift Deeds among the family members where minimum Rs.1000/- paid as registration charges.

I do agree with section 2 of KA Stamp Act and your link.

You have failed understand the difference between stamp duty and registration charges.

Please understand the LAW properly that when gift deed is getting registered with family members the stamp duty does not attract, in that case registration charges is applicable and registration charges will be paid to Govt not stamp duty.

Please open your two eyes properly and go through or read the attached documents and understand.

In first page of attached file - where I have recently registered Gift Deed in Bangalore. In caloum 1 says in Kannada that " Noddana Sulkha" means registration charges - Rs.500 and service charges Rs.210 total Rs.710.

In second page total amount for Gift Deed registration charges including printing charges paid Rs.1,120/-.

I think now you might have clearly understood the difference between stamp duty and registration charges payable on Gift Deed.
Being a professional be read and understand the law of land properly before posting or advising to other person. Don not try to confuse the clients and learned members of LCI. Always advice in right manner if other members view wrong and post with smooth manner.

A V Vishal (Expert)
09 March 2011

Calculation of Stamp duty and Registration fee for family members . Family member means family in relation to the donor for this purpose means husband, wife, son, daughter, daughter-in-law and grand children .

1 Fixed stamp duty Rs.1000=00

2 5% Additional Stamp duty on Rs.1000=00.
Rs. 50=00

3 2% Surcharge on Rs.1,000=00.
Rs. 20=00

Total Stamp duty payable
Rs. 1070=00


Stamp duty can be paid by purchasing Non-judicial Stamp papers from Government treasury or write document on plain paper and pay stamp duty in cash or through D.D. in the concerned Sub-Registrar Office.

4 Fixed Registration fee Rs.500=00 .
Rs. 500=00

Grand Total Rs. 1570=00*

* (a) Plus copying or Scanning Fee, endorsement, comparing, filing, record of rights and postage fee also chargeable.

(b) Registration fee can be paid in cash or through D.D. in the concerned Sub-Registrar Office at the time of presentation of the document for registration.

The list of documents (enclosures) required to be produced at the time of presentation of the document before the jurisdictional Sub-Registrar

Source: http://www.karigr.org/modeldeeds/giftd.htm

I still stick to what I said.



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