GPA Stamp Duty
Sudhin2218
(Querist) 22 August 2010
This query is : Resolved
Hi Everyone,
My grandmother did the GPA in favor of my mother in the year 1994,Now we produced that GPA to one of our CIVIL COURT CASE in karnataka, Court is asking us to pay the stamp duty for the GPA, since this GPA transaction happened between my grandmother and mother, will it be any concession on stamp duty?
Arvind Singh Chauhan
(Expert) 22 August 2010
what do you mean by General power of attorney or some thing else?
Sudhin2218
(Querist) 22 August 2010
Basically my father passed away on 1991, we have a property which was in my mother and grandmother's name, later in 1994 My mothers's father paid around 1 lakh 60 thousand to my grandmother (My father's mother), so my grandmother did the general power attorney of that joint property in favor of my mother, But during that time GPA was not registered.
Now we produced that GPA to one of our CIVIL COURT CASE in karnataka, since this GPA was not registered, Court is asking us to pay the stamp duty for the GPA, since this GPA transaction happened between my grandmother and mother, will it be any concession on stamp duty?
s.subramanian
(Expert) 22 August 2010
yes. it has to be registered. No concession is there.
Chanchal Nag Chowdhury
(Expert) 22 August 2010
There shall be no concession. On the contrary, the penalty for deficit fees may amount to ten times the deficit fees + the deficit.
Sudhin2218
(Querist) 23 August 2010
Thanks a lot for your quick reply.
Just an add to that, my mother was a co-owner and my grandmother was also co-owner of this joint property, with this general power of attorney my grandmother released her co-ownership rights to my mother (my mother already had half rights on this property), so my mother became the sole owner of this property. the contents of this GPA also says that my grandmother is releasing her co-ownership rights to my mother, so my question Can this GPA treat as a release deed? I also see there will be concession on stamp duty, if its a release deed in Release among family members — Article 45(b) of the Karnataka Stamp Act, 1957.
At present, release of immovable property at a concessional stamp duty of Rs.1,000 can be made by any person to his/her family members which includes husband, wife, son, father, mother, brother, sister, "wife of predeceased son" and children of predeceased son or predeceased daughter.
again my question is Can this GPA treat as a release deed?
I really appreciate for your help!!
