Gift
Hike in Stamp Duty Gifting to family in Maharashtra

Hike in Stamp Duty for Gifting immovable property within family

Latest News : Hike in Stamp Duty for Gifting immovable property within family wil be hiked from Rs. 200/- to 3% on the Market Value of the property.
On Tuesday 16, May 2017 the Maharashtra State Cabinet Ministers approved the proposal to increase the stamp duty on Gift Deed.


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.

Click to view Amendment

Article 34 Gift, Instrument of-not being a settlement (Article 55) or Will or Transfer (Article 59)

The same duty as is levyable 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.

[Provided that, if the property is gifted to a family member being the husband, wife, brother or sister of the donor or any lineal ascendant or descendant of the donor, then the amount of duty chargeable shall not be at the same rate as specified in this article or at the rate of rupees ten for every rupees five hundred or part thereof on the market value of the property which is the subject matter of the gift which ever is less.]
As per new amendment in Maharashtra Stamp Act, w. e. f. 24 April 2015

In Article 34, in column 2, after the existing proviso, the following proviso shall be added, namely:-
[Provided further that, 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 rupees two hundred.]

Make Note : As under section 122 of Transfer of Property Act, 1882 Gift is a transfer made voluntarily without any consideration.

Example : as per Article 34 (Column 1.) (Eplain for better understanding of the act).

If the property is gifted to any person or in family relation, without any monetary consideration then the stamp duty is 5 % on true market value as applicable under article 34 (read with article 25) Maharashtra Stamp Act.

Donor Donee Stamp Duty on Market Value
Any person to Other Person 5%
Father in law to Daughter in Law 5%
Mother in law to Daughter in Law 5%
Uncle or Aunty to Nephew 5%

Example :(Column 2.) (Explain for better understanding of the act).

If the any immovable property is gifted (without consideration) to family members in relation then the stamp duty is 2 % on true market value as applicable under article 34 Maharashtra Stamp Act.

Donor Donee Stamp Duty on Market Value
Son to his Mother / Father 2%
Daughter to her Mother / Father 2%
Brother to Sister 2%
Sister to Brother 2%
Grand Son to Grand Father / Grand Mother 2%
Grand Daughter to Grand Father / Grand Mother 2%

Example : Explain for better understanding of the (Amendment 2015).

If the residential or Agriculture immovable property is gifted (without consideration) to family members in relation then the stamp duty is 200/- on true market value as applicable under article 34 Maharashtra Stamp Act.


Donor Donee Stamp Duty
Father to his Son, Daughter, Grandson, Granddaughter Rs. 200/-
Mother to her Son, Daughter, Grandson, Granddaughter Rs. 200/-
Husband to Wife Rs. 200/-
Wife to Husband Rs. 200/-
Father-in-law to his Daughter in law (of deceased son only) Rs. 200/-
Mother-in-law to her Daughter in law (of deceased son only) Rs. 200/-

Notification : Dated 31/03/2016 Registration Fee 200/- on Gift

Inspector General of Registration, Pune Maharashtra State has issused notification related to Registration Fee on Gift of residential or agriculture property gifted within family, the registration fee will be Rs. 200/- Only.

Make Note : Those who had paid registration fee earlier on the gift can not claim the refund for the same.

To view or download above notification Click Here

Source : Registration and Stamp Department, Pune Maharashtra

Note : In any other gift then Registration fee will be 1 % on true market value or Rs. 30000/- whichever is less.


LOCAL BODY TAX

Additional tax of 1% is charged because such provisions are made in the concerned local bodies Act, The Registration and Stamp Department are authorised to collect it and then passed on to the concerned local self government / bodies by the state government which are as follows

1) Maharashtra Municipal Corporation Act, (In other Municipal Corporation Limits (LBT) Local Body Tax) Mumbai City and Mumbai Suburban District are excluded.

2) Municipality / Municipal Council / Nagar Panchayat Limits

3) Zilla Prishad Limits

Click to view LBT Circular

Note : Maharashtra Government had increased stamp duty by 0.50% for the Nagpur Improvement Trust (NIT) Nagpur Municipal Corporation (NMC) Council and Grampanchayat which is passed on to the civic bodies. So LBT is 1.5% in Nagpur.

4) Nagpur Improvement Trust Limits etc. ( LBT is 1.5 % )

For calculating stamp duty and registration fee and LBT on Gift Deed use are latest

Calculator




How to calculate Market Value

We have explained in details how to calculate Market value of Property.

How To Pay Stamp Duty And Registration Fee

Maharashtra State Government has provided various types of facilities to the public for the payment of Stamp Duty through various types of mode and has appointed Nationalized Banks, Schedule Banks, Private Banks and the Co-operative Banks which are authorized by Reserve Bank of India. With view that the facility of payment of stamp duty is made easily available to the public therefore different arrangements are in force.

Online Leave and License Registration

The Department of Registration and Stamp, Maharashtra State Government had appointed Authorised Service Providers to register Leave and License Agreement in Maharashtra.

Important Timeline of Maharashtra State

We have provided the Timeline Events of Registration and Stamp Department, Maharashtra State.

  • Follow Us