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Transfer of property
does stamp duty will be charged if I get property from my brother
Replies (3)
Yes, the gift deed has to be registered. But some states charge nil/reduced rate of stamp duty, when such gift received from 'a specific relative/s'
@ megha
Transfer of property will be by way of Gift Deed and it's registration and hence Stamp duty will be charged accordingly.
The stamp duty rates are State wise.
Transfer of property will be by way of Gift Deed and it's registration and hence Stamp duty will be charged accordingly.
The stamp duty rates are State wise.
1. It basically differs from state to state. As stamp duty charges are collected by state and rules relating to the same are governed by the state, so it depends on the state laws.
2. Some states provide an exemption to gifted property and some don’t. So, it basically depends on the sate in which the property is situated. Accordingly, whether stamp duty to be paid or not is determined.
Please correct me if the above solution has an alternative view.
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