|
I will acquire a property from my father as Gift. I understand I wont have to pay any Gift tax on the same. However, do I need to pay the Stamp Duty and Registration charges? The property is in Kolkata. Also, when an outsider (Not in Blood Relation) gifts me a property/immovable property, what is the Gift Tax applicable? asked Dec 21 '11 at 18:45 by Harsh K 1●1●1●1 |
|
In order to make gift genuine, a registered gift deed is recommended. Stamp duty and registration charges have to be paid, but its less than normal rates. Duty charges varies state wise. In case somebody else (not in direct relation) gifts you property, it would be taxable in your hands. The whole value or property would be added to your taxable income and taxed as per your income tax slab rates (max 30.6%). answered Dec 30 '11 at 14:50 by Pankaj Batra 5.2k●3●20 |