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If transfer right to property to parents what stamp duty and procedure
24-Oct-2023 (In Property Law)
Hi, I am a Maharashtrian, intrested in knowing the following things related to property; a) steps to transfer the rights of the house on my name to my parents name. b) what would be the stamp duty for the same. c) Can I still claim tax exemptions as I would be paying the EMI. Looking forward for the reply. Regards!!
Dear Sir,
1) The procedure of transfer of property form one name to another can be done by simply making Gift deed.
2) If transfer the rights of the house from son's name to parents name then stamp duty would be 3% of current value of property & 1% LBT of the same.
3) You can claim tax exemption.
1) The procedure of transfer of property form one name to another can be done by simply making Gift deed.
2) If transfer the rights of the house from son's name to parents name then stamp duty would be 3% of current value of property & 1% LBT of the same.
3) You can claim tax exemption.
Helpful?
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Adv. Mayur Sarode
Nashik | 100+ Answers
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What property you want to transfer in your name? How many family member are there in your family.? Where is the property you want to get transfer? What property you own with your self income? What are you doing to exempt tax ? Plz reply all queries.
Helpful?
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Adv. Sharad Malode
Pune | 100+ Answers
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