Alok Halarnkar 05 April 2018
R.Ramachandran (Advocate) 06 April 2018
Certain misconceptions of yours needs to be cleared.
1. Unlike the case of WILL (which takes effect after the death of the person making the WILL), Gift is a transfer between two living persons. Property that passes on from one person to another through WILL is not a Transfer. Whereas GIFT is a transfer of property from one person to another. What differentiates a GIFT and normal Sale/Conveyance is that in the case of Sale/Conveyance it is accompanied by Consideration, whereas in the case of GIFT consideration is absent.
2. Gift can happen within family or outside family. Therefore, just because in your case it happened within the family (between mother and son) would not in any way take away alter the situation.
3. Unless the GIFT is treated in the same way as equivalent to Conveyance/Sale, you would not have had the need to pay the Stamp Duty as applicable in the case of Conveyance/Sale.
4. Therefore, it is correct to say that Gift Deed is indeed akin to a sale deed without consideration.
5. Therefore, if according to the existing Rules, premium is required to paid to the Society/Panchayat in case of Conveyance/Sale, then you may have to pay the same in case of the GIFT mentioned by you.
Yusuf Rampurawala 06 April 2018
no transfer fee is payable to society if transfer is between family members. as regards panchayat demand, you can ask them under which provision of law they are making that demand.