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Rajesh   23 September 2016

Gift deed - notary


Would gift of the property through unregistered deed helpful for income tax purpose not for the other legal obligation ?




 10 Replies

Kumar Doab (FIN)     23 September 2016

Gift of property by unregistered gift deed is not valid.

What is the opinion of your own counsel?

Rajesh   23 September 2016

I am fedup with the tax planning system in India.

Currently I own a property, it is rented out and comes under service tax category.

Example Actual Rent         P.M. 30000
Income Tax @30% slab      P.M   9000

 Service Tax                       P.M.  4500

    Property Tax                  P.M.  2000

    In Hand Income             P.M. 14500

Now if I rent out additional portion of property, we don't get half of the amount received from Tenant. Tenant is not agree to pay service tax.

So is there any way we can save service tax + income tax levied on our income having Notary Gift Deed for income tax purpose by gifting that property in Blood Group Relation.

Not in a position to get transfer of property by paying stamp duty.

Kumar Doab (FIN)     23 September 2016

Your I Tax counsel can advise you thoroughly.

Rajesh   23 September 2016

I believe I am in the Income Tax Forum

Kumar Doab (FIN)     23 September 2016

No one in the forum may opine on how....................................!!!



R K JAIN (Advocate)     24 September 2016

There is no stamp duty in Haryana for blood relation transfer. However these taxes are made to 30% brackets people only not for ordingary people. So donot frustrate with Indian Tax and pay happily tax and enjoy rest.

Ms.Usha Kapoor (CEO)     25 September 2016

Bombay and Haryana wont charge stamp duty on gift transations. So get you gift Dedd registered and Pay taxes and make more and more gifts to your relatives specified in IT act/Gift Tax Act.

1 Like

Ms.Usha Kapoor (CEO)     25 September 2016


Ms.Usha Kapoor (CEO)     25 September 2016

Transfers using registered  gift deeds  are tax free. If you  appreciate this reply please click the thank you button on this forum.

1 Like

Rajesh   26 September 2016

Mr RK Jain,

Thanks for your help.

I am happy to pay 30 % Tax but there shoudn't be any other burdon on Service Tax, Excise other relevant taxes.

Even after paying these taxes we need to pay tax on purchasing any item in market.

So 50% income goes in taxes and then we need to start planning for own and savings.

Don't you think this should get changed.

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