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Stamp Duty Charges on Monetory Gift to My Daughter

This query is : Resolved 

Dear Sir,
I am from Maharashtra. Could you please guide me on the Stamp Duty to be paid on a Monetory Gift Deed I give to my daughter. Could you send Format of Monetory Gift Deed?Do I have to register the Deed with Govt.? Where to Register?

No stamp duty need to be paid on monetary gift. It can be on plain paper. However use a Rupees 5/ 10 stamp paper to indicate the date.

No need of any registration. Have signed by witness.

Thanks for your Guidance. The IT department will not require the documentary proof from the Donee?

You can show bank statement. Cash gift of 2 lacs and more not allowed.

You can execute a gift deed on stamp paper of Rs. 5 or 10 as available.
For future purposes, you can get the deed Notarized and keep with yourself. Mention the mode of gift in the deed cash or cheque.
Cash gift should be less than Rs. 2,00,000 .

You have mentioned Cash Gift of More than 2 lacs is not allowed. My gift will be much more than 2 lacs , which will not be in Cash but will be by Online Bank Transfer from my Ac to her Ac. In such a case, what is the procedure? Is it allowed? Is there any Stamp Duty? Could you please provide the format of Gift Deed.

In such a case bank transfer allowed without limits. No stamp duty applicable in this case. Stamp duty applicable only in case of gift of immovable property.



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