Is stamp duty applicable on movable gifts or not?
Is stamp duty applicable on movable gifts or not? If i donate Rs. 3 lakh of my own, what stamp duty i need to pay?
Yes stamp duty is applicable on movable gifts. Stamp duty differs state to state. So the amount of Stamp duty you need to pay can be ascertained once we know your state.
There is no gift tax in India. So, the donor is not liable to tax for any gifts made by him either in cash or in kind. But if any sum of money, No Stamp duty on Movable Property. but if you are donate certain amount to urself or any other person is not tax free. Donations are tax exempted.
Advocate Akhil VermaKarkarduma, Delhi
Yes stamp duty is applicable on movable gifts. Stamp duty differs state to state. So please provide from which state you belong?
Advocate Sudershani RayKailash Hills, Delhi
- Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Documentation Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
Get Started >>
- How to recover the advance paid amount from real estate/builder
- best transaction of capital-while selling of house
- No payments made since two years by government officer
- Can uncle claim share in my fathers property
- Can I refuse to honor a notarized home sale agreement