Stamp duty on gift deed of shares in maharashtra

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stamp duty on gift deed of shares in maharashtra

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Note: Top Gainer - Nifty 50 More. Note: Top Loser - Nifty 50 More. Expiry Dt: More. Under the Companies Act, , stamp duty is payable when a transfer deed is executed for transfer of shares, which is done using Form 7-B. Shares of public limited companies are freely transferable.

Maharashtra Government has given Relief in stamp duty for Gift. The same duty as is leviable on a Conveyance under clause a , b , c or d as the case may be of Article 25, on the market value of the property which is the subject matter of the gift. Example : as per Article 34 Column 1. Eplain for better understanding of the act. Explain for better understanding of the act.

Gifting is an act, through which a person voluntarily transfers certain rights in an asset to another person, without any consideration. Gifting of a house property, has certain income tax and stamp duty implications. 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. However, if the gift deed is executed between some specified close relatives, some states provide concessions in stamp duty. According to income tax laws, the value of all the gifts received by a person during a year is fully exempt, as long as the total of such gifts does not exceed Rs 50, in a year. If the value of all the gifts taken together exceeds Rs 50,, then, the aggregate of the gifts received become taxable without any threshold exemption. However, income tax laws also give a favourable treatment, to gifts between two close relatives.

A gift deed is an agreement used when a person wishes to gift his asset property or money to someone. Any valid owner of an existing property can gift property. A minor is incompetent to gift a property though a guardian can accept such a gift on his behalf. WHAT is the law that governs gifts by one person to another? Transfer of Property is an act by which a living person conveys property in present or in future to one or more living persons. A transfer of property may be made without writing, if it is not expressly required by law.



Stamp duty on transfer of shares

Maharashtra: Now, pay 6% stamp duty on property deals

Transfer of shares by gift deed and stamp duty

My mother wants to transfer some of her shares held in a private limited company in Maharashtra to me by way of gift through a gift deed. I understand that even though share transfer is taking place with out any consideration the stamp duty to be paid with share transfer form is 0. I want to know, if in addition to this 0. Is it correct? As per my knowledge, the stamp duty will be payable on consideration of shares. In the case of gift, the share value is not considered but, it is required to register gift deed as a rate specified in the respective state.

Hike in Stamp Duty in Maharashtra Hike in Stamp Duty for Gifting immovable property within On Tuesday the state cabinet had amended the Maharashtra stamp duty act and had hiked the You have taken smart Decisions! No Stamp duty on gifting of property between blood relatives in Maharashtra, However, there is an exemption in case of specified relatives.

Stamp duty and tax on gift deed of property

Never miss a great news story! Get instant notifications from Economic Times Allow Not now. China gifts warship to Sri Lanka. Money gifts to NRIs are taxable from July 5, , property gift tax rules unchanged. India to rein in China's gift horse. All rights reserved. For reprint rights: Times Syndication Service.

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Hike in Stamp Duty in Maharashtra State, Gifting of property (Land and Residential) State Cabinet Ministers approved the proposal to increase the stamp duty on Gift Deed. Maharashtra Government has given Relief in stamp duty for Gift.
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