From Rs 10,00,001- Rs 20,00,000 it.
Legal requirements for gift, as per the gift items for birthday man Transfer of everyday rewards card number Property Act, the transfer of a house property under a gift, has to be effected by a registered instrument/document, signed by or on behalf of the person gifting the property and should also be attested.The list of close relatives includes parents, spouse, siblings, siblings of the spouse, lineal ascendants and descendants of the person and his/her spouse.Proprietorship RegistrationPartnership RegistrationLLP RegistrationCompany RegistrationOPC RegistrationNidhi Company RegistrationSection 8 Company RegistrationTrademark RegistrationTrademark ObjectionTrademark OppositionCopyright RegistrationPatent laird coupon code RegistrationGST RegistrationTAN RegistrationESI Registrationmsme Registrationfssai RegistrationImport Export CodeDigital SignatureIncome Tax FilingGST FilingTDS FilingESI Return FilingCompany Name ChangeRegistered Office ChangeAdd DirectorRemove DirectorIncrease Authorised CapitalShare TransferAdd PartnerRemove PartnerProprietorship CompliancePartnership ComplianceLLP ComplianceCompany ComplianceBusiness.Check whether the settlee has accepted the deed of settlement by implication or by his/her actions.Gifting of a house property, has certain income tax and stamp duty implications.From Rs 1,00,001 Rs 5,00,000 it.Gifting is an act, through which a person voluntarily transfers certain rights in an asset to another person, without any consideration.
Some States, however, also insist upon the settlee to sign as a token of approval.
From Rs 50,001 Rs 1,00,000 it.
However, if the holding period is more than 36 months, you will get the benefit of indexation on the cost of the property, as well as the option to claim exemption from payment of 20 long-term capital gains tax, by investing in a residential house.Above Rs 25 Lacs it.Check whether the original title deed document belonging to the settlor has also been handed over to the settlee.(The author is a taxation and home finance expert, with 35 years experience).The registrar shall ensure that proper stamp duty has been affixed on the gift deed/document when it is presented for registration.The amount of stamp duty and registration charges payable, with respect to a gift deed, are generally the same as in the case of a regular sale.See also: What is Stamp Duty Rates Charges on Property?