Stamp Duty for Gift Deed

Since gift of immoveable property requires registration you need to pay stamp duty, however, in case of gift of money the gift deed can be drawn on a plain white paper stating and confirming the gift to your father. 

My mother is Gifting me Rs, 475000/- cash through A/c Payee DD. I have already made a Gift Deed for the same. Should the deed be required to registered and whether this transaction is liable to Stamp Duty in Gujarat??? Please Reply urgently>..

Dear Sir,

No, u have taking movable properties from ur mother, so that u have no need to pay any stamp duty on it. beacuse stamp duty is paid only on immovable properties.

Dear Sir

My Mother-in-law want to gift a lant worth 800000 to me n my wife. Please let me know how much is the stamp duty for creating the gift deed.

Regards

Sathya

Dear Mr Sathya

Your case is different as the same involves gift of immovable property and thus the gift deed needs to be registerd. The stamp duty depends upon the state in which the property is situated.

Further the value of land also depends upon the circle rate adopted by Stamp Duty authorities for market valuation purposes.

Dear Vineet

The land is in madurai and it is in the circle of Panchayat. Government land cost value is 65000/Cent. I wnat to know the registration cost and the possibility of registering the land in my name and in my wife name.

Regards

Sathya

DearcMr Sathya,

I am not very well versed with the geography of Madurai and surrounding areas, however, as per Tamilnadu stamp act, the stamp duty on gift deed of immovable property shall be charged as if conveyance. So in your case it will be 6% of market value of property.

However, it will be most prudent if you consult any loacal lawyer in Madurai dealin with property matters.

Dear Sir,

Could you please quote the provisions, where in it is mentioned that stamp duty is not be paid in case of gift of movable property.

Acc to me, Bombay Stamp Act does not spceifies this.

Awaiting your reply.

If the item is not specified in the Bombay Stamp Act, that means no stamp duty is payable on such instrument. Further Registration Act does not mandate registration of instruments involving movable assets.

sir my father wants to gift me a land please advice me that how could i get it????????????????

my father has the power of attorney for that particular land..............

Dear Sir,

My father wants to gift me a plot worth Rs 10 lakhs.

What is the cheapest way of transfering the property .