Transfer of share of one of the member of jointly owned flat

ARUN KHATANHAR (Querist) 25 September 2013 This query is : Resolved
Property is jointly owned by Father and Mother in 50% sharing Ratio. Fater wants to gift his 50% share to his son through Gift Deed. Is this Trf Posibble?
Are thier any Tax Implications?

Thanks in Advance

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ajay sethi (Expert) 25 September 2013
yes it is possible . stamp duty would be 2%of market value of property . plus registraton charges

Rajendra K Goyal (Expert) 25 September 2013
Agree with the expert ajay sethi ji. Stamp duty differ State to State.

V R SHROFF (Expert) 25 September 2013
yes transfer is possible . stamp duty would vary state to state . pl consult local lawyer ....4 s d + doc + registration

ARUN KHATANHAR (Querist) 25 September 2013
Can in the same case husband trf his 50% share to his wife through gift deed?

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Transfer of share of one of the member of jointly owned flat

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