A new amendment of Maharashtra Stamp Act, in related to Gift the stamp duty is 200/- has been introduced from 24th April, 2015.
Maharashtra Government has given Relief in stamp duty for Gift.
If the residential and agricultural property is gifted to husband, wife, son, daughter, grandson, grand-daughter, wife of deceased son, the amount of duty chargeable shall be 200/- (Rupees : Two Hundred Only).
1) Husband to Wife or Wife to Husband
2) Father to Son or Son to Father
3) Father to Daughter or Daughter to Father
4) Grand Father to Grand Son or Grand Son to Grand Father
5) Grand Father to Grand Daughter or Grand Daughter to Grand Father
6) Father-in-law to Daughter-in-Law (Widow)
7) Mother-in-law to Daughter-in-Law (Widow)
8) Mother to Son or Son to Mother
9) Mother to Daughter or Daughter to Mother
If the property is gifted (without consideration) to other family members i.e. (brother and sister) are not listed in the above list then the stamp duty is 2 % on true market value as applicable under article 34 Maharashtra Stamp Act.
If the property is gifted to any other person (not a family member) then the stamp duty is 5 % on true market value as applicable under article 34 (read with article 25) Maharashtra Stamp Act.
Note : The Registration fee will be 1 % on true market value or Rs. 30000/- whichever is less
Provided information is for general purpose and mere use only and not constitute as a legal advice or remedies. We advise our users to take proper legal helps from Solicitor or an Advocate or with concerned department before taking any decision.