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What will be the duty amount to be paid on a gift deed
20-Jun-2023 (In Documentation Law)
Me and My wife purchased house @ Rs. 1100000 in Pune in 1993 now we both want to gift it to our son. What will be the duty amount to be paid
Hi,
You and your wife purchased the property in Pune in the year 1993, you can give the said property or house to your Son by way of gift,
Stamp Duty for the Transfer by way of Gift i.e. 200+LBT (On Government Valuation).
Helpful?
Dear Querist, No percentage stamp duty on gifts between blood relation. Only you will have to pay Rs 500/- for stamp duty and Rs 200/- registration charges. and if required legal i.e. advocate charges and agent charges. But official government charges cant be more than Rs 700.
Regards,
Rakesh V. Misar
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Adv. Rakesh Misar
Mumbai | 200+ Answers
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Sir,
The registration amount and stamp duty payable for gift deed from parents to child id Rs 200/- each.For any further clarification you can check online also or visit the registration office of that property.
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Adv. Shalini Devi
Mumbai | 400+ Answers
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For Blood relation stamp duty not applicable, you can gift the flat Vide Gift deed on 500 stamp paper but for registration you require to pay 1% Registration Fees i.e. 1% of property value or Rs.30,000/- whichever is higher.
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Adv. Sharad Malode
Pune | 100+ Answers
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