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Stamp paper for gift deed?

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 September 2012 Is it necessary to execute a moneytory gift in a stamp paper? If yes, what will be the value of the stamp paper and is it required to be noterised ? for example....

My father inlaw want to gift a sum of Rs.10000/- to me, karta of my HUF.
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Amol S Joglekar

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Amol S Joglekar (Expert)
29 September 2012 Gift deed are STAMPABLE document. 3% is the stamp duty. I have seen many a people to get a letter of gift in order to get rid of STAMP DUTY as well as service the purpose of GIFT. (Especially for such a small amount)
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