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
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