Joint property
satish
(Querist) 20 June 2012
This query is : Resolved
Dear sir
Myself & my step mother jointly hold a property in bangalore, the property is purchased by me from salary income. I included my step mother name because she is taken care me well from our childwood, (my father was married my step mother after my mother's natural death, & he is also expired 20 yrs back) and i have a step sister also my query is that
1)whether indian law is allowed to accept property by way of gift deed from a stepmother
2) Receiving property my way of gift deed from my stepmother is legaly valid or not
Shonee Kapoor
(Expert) 20 June 2012
Yes, it is valid. However Stamp Duty and Registration needs to be done.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
A V Vishal
(Expert) 20 June 2012
A registered gift deed is perfectly valid
Guest
(Expert) 20 June 2012
Property can be gifted to anyone after registration and payment of stamp duty.
satish
(Querist) 21 June 2012
Dear sir
Thanks for reply, Please advice me what is the registration fee and stamp duty for Gift deed in karnataka
Bye
Satish
A V Vishal
(Expert) 21 June 2012
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*
