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ripu sudan Maroo   04 October 2020

Stamp duty on gift

If a specified relative(covered under incone tax) want to gift 10 lakhs then the assesse is to required to prepared a gift dees for future reference and pay stamp duty or other options are available?


 6 Replies

Sagar Patel

Sagar Patel (Tax and Business Consultant)     04 October 2020

Yes, required to prepare Gift deed

There is no stamp duty on Gift of Rs. 10 lakh. Question of Stamp duty arise at time of Giving immovable property as Gift, not in case of Gift in Cash/cheque ect...
2 Like
ayusmita

ayusmita (Tax consultant)     04 October 2020

Yes gift deed is mandatory
and regarding stamp duty it only comes when some one gift a property to another person
btw what is the gift??
ripu sudan Maroo

ripu sudan Maroo   04 October 2020

Cheque
vinayak landge

vinayak landge (B.Com)     04 October 2020

If you want to avoid gift deed compliance you can show it as loan given
1 Like
ayusmita

ayusmita (Tax consultant)     04 October 2020

No need of stamp duty
2 Like
ANIL KUMAR KHETAN

ANIL KUMAR KHETAN (PROPRIETOR)     05 October 2020

Declaration ad acceptance of gift amount Acknowledgement is not required stamp duty in case of moveable property gift
1 Like

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