Mothers' will
ANAND JAIN
(Querist) 09 February 2017
This query is : Resolved
My mother wants to make her WILL. She has 4 daughters and myself the only son. She wants to divide her plot of land equally into 5 parts. Now my sisters who r abroad have shown intentions of gifting their part to me after the demise of my mother. Is such a gift taxable ?
ANAND JAIN
Kumar Doab
(Expert) 09 February 2017
Stamp duty, registration charges are state subject and current rates can be inquired from SRO/Registering Authority.
Likewise On future date it can be inquired from SRO/Registering Authority.
The state might have exempted in case of relation under list of blood relations/relatives.
Adv. Yogen Kakade
(Expert) 10 February 2017
You shall be able to get some relief in the registration process as the gift is within the blood relation. But the other taxes related to the gifts are applicable.
Rajendra K Goyal
(Expert) 10 February 2017
Stamp duty differ from state to state. At the time of execution of the document it need to be discussed with local registrar office / local lawyer.
If your sisters want to forgo / relinquish their right, your mother can bequeath property in your name only.
Dr J C Vashista
(Expert) 11 February 2017
Well advised by expert Mr. Rajendra K Goyal, I agree and appreciate.
Your mother may bequeath the property in your name directly, if the property is her self-acquired and your sisters may request her (your mother) so.
Rajendra K Goyal
(Expert) 11 February 2017
Expert Dr J C Vashista ji,
thanks for agreeing.
