• Gift of property by son to mother or father inlaw.

If son gifts to his mother or father in-law a property in mumbai . stamp duty payable would be rs 200 or 3 percent.
Asked 3 years ago in Property Law
Religion: Hindu

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10 Answers

It would be 3 per cent if executed in favour of mother 

Ajay Sethi
Advocate, Mumbai
97785 Answers
7922 Consultations

taxpayer who sells multiple properties and invests all proceeds into one house can claim an exemption under section 54F (refer ACIT v Mahindra Kumar Jain).


taxpayer who sells multiple properties and invests all proceeds into one house can claim an exemption under section 54F (refer ACIT v Mahindra Kumar Jain).


taxpayer who sells multiple properties and invests all proceeds into one house can claim an exemption under section 54F (refer ACIT v Mahindra Kumar Jain).

Ajay Sethi
Advocate, Mumbai
97785 Answers
7922 Consultations

Dear Sir / Ma'am,

According to Article 34 of the Maharashtra Stamp Act, which was revised in 2017, stamp duty on gift deeds is 3 percent of the property value. But, if the property is residential or agricultural, and is gifted without any payment to a blood relative, then the stamp duty is Rs 200.

Thank You.

 

Anik Miu
Advocate, Bangalore
10479 Answers
121 Consultations

Dear Sir/ Ma'am,

A taxpayer who sells multiple properties and invests all proceeds into one house can claim an exemption under section 54F of the Tax act.

Thank You.

Anik Miu
Advocate, Bangalore
10479 Answers
121 Consultations

Since the relationship do not come under blood relationship you may not be eligible for any concession in the stamp duty to be paid for registering this transfer deed, you may have to pay the stamp duty as per the  ready reckon-er rates. 

T Kalaiselvan
Advocate, Vellore
87986 Answers
2369 Consultations

Capital Gains Exemption Taxpayers can now obtain a long-term capital gains exemption on the sale of a house by investing in two houses (upper limit of Rs 2 crore). Earlier, the exemption was available for investment in only one property.

This option can be exercised by the taxpayer only once in his lifetime provided the amount of long-term capital gain does not exceed Rs. 2 crores. The option to claim capital gain exemption under Section 54, in respect of two houses, shall be available as the amount of capital gains does not exceed Rs. 2 crores.

T Kalaiselvan
Advocate, Vellore
87986 Answers
2369 Consultations

If mother then it's less but father in law is 3 to 4 percent approx plus registration charges

Prashant Nayak
Advocate, Mumbai
33075 Answers
215 Consultations

It will not be considered as gifted to blood relative for which stamp duty will be charged as  per prevailing usual rate.

Krishna Kishore Ganguly
Advocate, Kolkata
27537 Answers
726 Consultations

Yes, he will get the I, Tax benefit on the amount invested in buying his dwelling house from the said sale proceeds.

Krishna Kishore Ganguly
Advocate, Kolkata
27537 Answers
726 Consultations

- If the gift deed in favour of relative like mother , then stamp duty is 3 percent. 

- If one sells multiple properties and buys one, then he can claim exemption of tax under section 54 F of the Income Tax Act. 

Mohammed Shahzad
Advocate, Delhi
14881 Answers
225 Consultations

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