Can anybody please guide me abt that wht r the chgs for gift deed from father to son, blood relation, a residential flat.. 1) 2% of mkt value, lbt + service tax OR 2) on Rs. 200/- stamp paper + registration chgs of Rs. 30,000 or 1% of mkt value , whichever is less..

Can anybody please guide me abt that wht r the chgs for gift deed from father to son, blood relation, a residential flat..
1) 2% of mkt value, lbt + service tax OR
2) on Rs. 200/- stamp paper + registration chgs of Rs. 30,000 or 1% of mkt value , whichever is less.. more

Helpful Legal Advise and Matters Feb 14

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Gopal Ramasubramanian

According to Article 28 Karnataka Stamp Act, "Family in relation to the donor for this (Gift) Purpose means,( Father, Mother) Husband, wife, son, daughter, daughter-in-law, brother, sister and grand children. Calculation of Stamp duty and Registration fee for family members . Family member means family in relation to the donor for this purpose means husband, wife, son, daughter, daughter-in-law and grand children . Hence, gift executed as per the definition, stamp duty payable is as follows:- 1.Fixed stamp duty =Rs.1000=00 2. 5% Additional Stamp duty on Rs.1000=00. Rs. 50=00 3. 2% Surcharge on Rs.1,000=00. Rs. 20=00 Hence, Total Stamp duty payable is Rs. 1070=00 Stamp duty can be paid by purchasing Non-judicial Stamp papers from Government treasury or write document on plain paper and pay stamp duty in cash or through D.D. in the concerned Sub-Registrar Office. Fixed Registration fee Rs.500=00 .Rs. 500=00 Grand Total Rs. 1570=00* * (a) Plus copying or Scanning Fee, endorsement, comparing, filing, record of rights and postage fee also chargeable. (b) Registration fee can be paid in cash or through D.D. in the concerned Sub-Registrar Office at the time of presentation of the document for registration. more

Feb 16

Annaji Acharya

Gift to direct descendants is free of gift tax(after all after father's demise the son is the natural heir).If the father writes a will (again need not be registered)the property goes to the son as per will automatically. Simply get the descendant entered in the municipal records and pay your property tax etc., more

Feb 15

Ramesh Mital

Thanks Taunk Sahib. Regards. Ramesh Mital From: support@localcirclesmail.com To: mitalramesh@hotmail.com Subject: Found your comment "No gift tax/ service tax ..." helpful Date: Mon, 15 Feb 2016 06:21:04 +0000 more

Feb 15

Ramesh Mital

Thanks,Madam. Regards. Ramesh Mital From: support@localcirclesmail.com To: mitalramesh@hotmail.com Subject: Found your comment "No gift tax/ service tax ..." helpful Date: Mon, 15 Feb 2016 10:40:01 +0000 more

Feb 15

Ramesh Mital

Thanks, madam. Regards. Ramesh Mital From: support@localcirclesmail.com To: mitalramesh@hotmail.com Subject: Found your comment "No gift tax/ service tax ..." helpful Date: Mon, 15 Feb 2016 10:40:07 +0000 more

Feb 15

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