Huf property

This query is : Resolved 

04 January 2017

HUF PROPERTY BOUGHT IN 1965 @ 30000 Rs.IN MUMBAI & total capital of huf is eight lacs



present value is 220 lacs.

daughter are willing to forgo their share in property & capital of eight lacs.

how to dissolve the huf what will be stamp duty registration charges [ if any ] in Mumbai if the property to be registered in to avoid stamp duty & registration charges.

any direct sale of property is possible without transferring the property in society register. after payinr necessary transfer fees & hand over the share certificate to new buyer.[ TO AVOID LONG PROCEDURE FOR TRANSFER IN SOCIETY AS THEY SIT FOR MEETING IN 3 MONTHS ]

Rajendra K Goyal Online (Expert)
04 January 2017

Without knowing full details / material facts / related documents, nothing can be advised. Discuss with local lawyer.

Ms.Usha KapoorOnline (Expert)
05 January 2017


AJAY SHAH (Querist)
08 January 2017

Thanks for the reply, but local lawyer says after FULL dissolution of HUF & gifting the property by sisters to brother, need to pay stamp duty & registration charges to Govt of Maharastra. kindly give guidelines as i need to pay any stamp duty if i dissolve the HUF and the beneficiary will be only brother or his wife or jointly.what will be the capital gain tax on it as property is more then 20 years old.

Dr J C VashistaOnline (Expert)
10 January 2017

Discuss with another local lawyer, stamp duty and registration charges is a state subject.

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