Property Gift: Stamp Duty on Transfer of Property & Details of Property Gift Tax, Sale Deed & More

Do you know what a gift deed is?

Do you know what to consider for property gift?

Do you know about property gift tax?

Do you know the stamp duty on the transfer of property?

Even though the gifting of property is a transaction in which the giver does not receive any monetary benefit, he is bound to register this property transfer.

A gift deed is a document that transfers property to another owner as a gift. A Gift deed is valid only when it is without any consideration in return by one family member/ friend to another. A gift is considered valid only if it is made voluntarily and without consideration. Also, it is mandatory to register Gift Deed, according to Section 17 of the Registration Act, 1908. Also, remember that the owner of immovable property is free to gift it to a relative or a third person.

Know that a property has to meet the following requirements to become a gift under Indian laws:
• The property must be a movable or immovable property.
• The property must be transferable.
• The property should not be a future property.
• The property should be tangible.

In this video, we will talk about how much money has to be spent when a property is gifted, details about property gift, property gift tax, transfer of property from parent to child in india, stamp duty on transfer of property, gifting a house and much more.

Read more about this here - https://housing.com/news/stamp-duty-t...

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