Raghav Goyal (Article) 30 March 2013

Gift deeds

Respected Members,

Please tell of what denomination the stamp paper is required to make a gift deed in PUNJAB?

Please suggest some basic concepts to be kept in mind while executing a gift deed.

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kavksatyanarayana (subregistrar/supdt.(retired)) 31 March 2013

a gift can be given to any body even outsiders. the stampduty shall be payable as where the value exceeds Rs.900 , but does not exceed Rs. 1000 ;=Sixty rupees Thirty rupees and for every 500 or part thereof in excessof Rs. 1 , 000 ;=Thirty rupees.under art.23 of sch-ia of is act.

if it is a gift (settlement) be given to the family members payable to stamp duty same as bond.under article 58 of schedule-IA of is act(punjab stamp act)

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Raghav Goyal (Article) 31 March 2013

kavksatyanarayana ji,

I couldn't understand your point properly.

What would be the criteria to determine the value of stamp paper required for a gift deed for a gift of cash or kind of value Rs.1.5 Lacs - Rs. 2 Lacs in Punjab? The gift is to be given by the father to the HUF of his Son.