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Transfer among relatives.

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VARUN RANJAN

Student

231 Points Posted on 20 April 2023

As per Stamp Act of WB - Father's brother is not a relative, so any transfer between them has to be done vide sale deed.
(Current Stamp Value of land 50 Lakhs)

but as per Income tax Act, they are relatives, so transfer among them will not be taxable.

how do I plan the transaction such that I am not liable to pay Capital Gains tax.
also is there a way to not decrease the tax liability if sale deed is registered?

thanks.

Replies (3)

Quick Summary

This discussion explores the complexities of transferring property between relatives in West Bengal, particularly concerning the Stamp Act and Income Tax Act definitions of 'relative'. The user seeks advice on how to structure a transaction to avoid capital gains tax, even when a sale deed might be required by stamp duty laws. Suggestions include using a gift deed and consulting a local lawyer for proper registration.