Gift tax

Querist : Anonymous (Querist) 09 August 2011 This query is : Resolved
hi,
i am from kerala
If my property worth rs.35 lacks is giving as a gift to my own sister, will affect the stamp duty?,gift tax?or any other charges?
what is the new rule related to it in kerala?

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R.Ramachandran (Expert) 10 August 2011
It will definitely involve Stamp duty and registration charges.

It will not affect any income tax provisions since the gift is from close relatives in the family.

ajay sethi (Expert) 10 August 2011
i agree with mR Ramchandran . execute gift deed get it duly stamped and registered

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