Rajeev (Partner) 05 March 2014
Dear learned members, I have certain queries regarding gift deed for property.
1- Can only free hold property be gifted or is there a provision to gift leased property also.(DDA/L&DO/MCD-Delhi)
2- Other than the stamp duty, is there any other taxation involved on Recipient and or donor.
3- If a property is not gited but willed in favour of recipient (free hold, leased) then is stamp duty still applicable, at the time of transfer?
I shall be very thankful for your expert opinions.
Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 05 March 2014
stamp duty is a legal tax payable in full and acts as an evidence for any sale or purchase of a property. The levy of stamp duty is a State subject and thus the rates of stamp duty vary from State to State
S K KARNjhc (Legal Adviser) 05 March 2014
You have been perfectly replied by Mr. Ramachary Sir.
Rajeev (Partner) 06 March 2014
I think i have not been clear with my questions and i repeat all my questions as below
1- Can only free hold property be gifted or is there a provision to gift leased property also.(DDA/L&DO/MCD-Delhi)
2- Other than the stamp duty, is there any other taxation involved on Recipient and or donor, if the recipient is a relative.
3- If a property is not gifted but willed by donor in favour of recipient (free hold, leased) then after death of donor, is stamp duty still applicable, at the time of transfer to recipient??
I shall be very thankful for your expert opinions.
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