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Stamp duty on gift deed & income tax on selling propert
01-May-2023 (In Property Law)
My mother has one immovable property in her name in Rajasthan & she does not have pan card. I want to know the best way of using amount of selling that property.
1. should my mother gift it to me & pay stamp duty on it. then I will sell this property & invest the amount received from it to purchase flat in Delhi & NCR. OR
2. My mother should sell it & pay income tax on it & then i will use that money to purchase flat in Delhi & NCR. What would be the best way ? Is there any other way we can go to sell property & save tax on it?
1. should my mother gift it to me & pay stamp duty on it. then I will sell this property & invest the amount received from it to purchase flat in Delhi & NCR. OR
2. My mother should sell it & pay income tax on it & then i will use that money to purchase flat in Delhi & NCR. What would be the best way ? Is there any other way we can go to sell property & save tax on it?
If your mother gifts property to you it would attract 2% stamp duty. In addition registration charges would have to be paid. Then if you sell property it would attract another 5% stamp duty and registration charges. Best bet is for your mother to sell the property. If mother is holding on to it for number of years it would attract long term capital gains. Then your mother can purchase flat in joint names you would be joint owner of flat.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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What is the property registration fee in Rajasthan?
As a registration charge, both men and women must pay 1% of their property value. If you buy a property for Rs. If you are buying a property worth Rs. Registration fee is Rs. 1 lakh.
What is the stamp duty for senior citizens in Rajasthan?
The Finance Department of Rajasthan, on August 02nd 2022, released a notification in regards to the immovable properties executed in favor of senior citizens. Stamp duty will be charged at a rate of 5 percent, and registration fees at a rate of 0.5 per cent.
How do I transfer property from mother to son in Rajasthan?
Gift Deed is the most common way to transfer property from mother-to-son. Registration costs are lower than for Sale Deeds. Bring Demand Drafts of around Rs. Stamp fees are 6000/- and another demand draft around Rs. 24-Feb-2018
Is stamp duty applicable on gift deed in blood relation?
Stamp Duty: Rs 200 per residential property and Rs 3% for blood relatives. Registration with local authorities is mandatory, along with the submission of valuation certificates and encumbrance certificate. Stamp duty: 5% for family members and non-family.
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