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Stamp duty charges on gift deed
02-Sep-2023 (In Property Law)
What is the stamp duty charges when an individual gifts the property to his sister’s daughter (niece) in Bangalore ? Does it count as blood relation or not ?
hello Sir/Madam
Sister's daughter will not be considered as blood relation for the purpose of stamp duty in Karnataka. You have to pay 5% stamp duty on the guideline value of the property.
you can gift the same to your sister and your sister can gift the same to her daughter.
Sister's daughter will not be considered as blood relation for the purpose of stamp duty in Karnataka. You have to pay 5% stamp duty on the guideline value of the property.
you can gift the same to your sister and your sister can gift the same to her daughter.
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Adv. Rekha C. V.
Bangalore | 100+ Answers
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What is the stamp duty on gift deed in blood relation in Mumbai?
According to section 34 of the maharashtra stamp act, maharashtra stamp and gift duty is 3%. If the property is residential or farmland and it was given (without payment), the maharashtra gift duty is Rs 200.
Is stamp duty charged on property transfer within a family in UP in 2023?
UP reduces stamp duty on family property gifts to Rs 5,000. Earlier, gift deeds attracted 5% stamp duty. The Uttar Pradesh government fixed the stamp tax on gift deeds to Rs 5,000 in an effort to reduce the cost of transfers between family members. 10 Aug 2023
What is blood relation for gift deed?
A legal document called a gift deed for blood relations is used to transfer property ownership from one family to another, without any exchange of money. This is a common way for parents to pass their assets on to their children, without having to worry about tax or legal implications.
Do I have to pay stamp duty on gifted property in India?
If the donee clears the property, the gift becomes invalid because there has been a monetary transaction. Stamp duty and registration fees are usually the same or similar to those of a Sale deed.
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