In division of HUF only of financial assets does it involve stamp duty
20-Jan-2023 (In Property Law)
I am the Karta of my HUF situated in Delhi. We all co-parceners have no dispute & in a harmonious manner want to have full partition of HUF i.e draw Partition Deed & get it registered in Delhi court. We have only financial assets i.e. fixed deposits & Bonds etc. Please advise if stamp duty is applicable on financial assets. If stamp duty is applicable then how much will be applied.
Get a court appointed local commissioner or identify a lawyer who has mutual trust and neutrality among all of you. The rest will be taken care of by the Advocate. As in your case it seems you do not intent to dilute the bonds and fixed deposit among yourself, this solution will be effective and you would need not to worry about the valid documentation.
Helpful?
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Dear sir,
You can partition the properties simply by execution of a partition deed without having it registered or stamped. For a partition of movable and liquid assets does not require registration.
Thanks
You can partition the properties simply by execution of a partition deed without having it registered or stamped. For a partition of movable and liquid assets does not require registration.
Thanks
Helpful?
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For the purposes of registration of Partnership Deed applicable stamp duty on the deed is required to be paid. Assets financial or otherwise are not required to be calculated for that purposes. But if you want transfer of assets having value of more than 100 rupees attracts payment of stamp duty.
Helpful?
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Deed of Partition can be drafted and according to valuation of the assets would be necessary, on which the requisite stamp duty would be paid.
The address of the party can be treated as the point of jurisdiction or even the location of property.
The address of the party can be treated as the point of jurisdiction or even the location of property.
Helpful?
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Stamp duty is applicable in respect of partition of immovable property. If your HUF comprises only of movables and financial assets stamp duty would not be required to be paid. You should execute the partition on a stamp paper and have it attested.
Helpful?
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