An HUF consisting of movable assets being Cash at Bank is going for full partition amongst its member. Whether any deed is required to be executed? If so, Whether any stamp duty to be paid on it if executed in Gujarat?
An HUF consisting of movable assets being Cash at Bank is going for full partition amongst its member. Whether any deed is required to be executed? If so, Whether any stamp duty to be paid on it if executed in Gujarat?
Yes. Dissolution deed.
Register at sub-registrar office, stamps may be around 500/- (it being state specific).
My post Partition of HUF : https://www.canirmalg.com/2017/04/22/partition-of-a-hindu-undivided-family/
Partition Deed may be prepared for Immoveable Property which usually attracts a lower rate of duty vis a vis Deed of Conveyance. Further Single Largest Share is excluded while computing Stamp Duty. Stamp Duty rates vary State / UT wise.
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