Resp. Sir/Mam, I m from Nagpur, Maharashtra and my question is "My aunty (My Father's elder sister) wants to transfer her mhada flat to me through register gift deed, as she is alone. Now, my points are: 1. Can she transfer it by register gift deed to me. 2. Do I have to pay any stamp duty on it. 3. Do I have to pay any income tax on it. 4. Can I sell a gifted property after some years. 5. What documents do I require for gift deed. And last but not the least, In 2015, she has made her registered will, stated that after her death, that mhada property will goes to me, but now she wants to transfer it as soon as possible before her demise. So, before making a gift deed, I have to cancel that will or Not? Waiting for an urgent reply. Thank you, Snehal Borkar Nagpur, Maharashtra
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1) ain't can transfer property to you by gift deed
2) you have to pay stamp duty and registration charges
3) you are at liberty to sell property after some years
4) no need to cancel registered will
5) for gift deed you need details of flat sought to be transferred, share certificate issued , OC issued by muncipal corporation , no due certificate from society etc
1. Yes, if she is the owner of this flat she can gift this one to you.
2.Yes which varies from state to state.
3.No
4.Yes
5.Titile deed of your aunt and both of your PAN cards.
1. If she is having marketable title to the property she can very well transfer the same by executing a registered gift deed in your favor.
2. The applicable stamp duty and the registration charges are to be paid.
3. No, income tax is not applicable now.
4. Yes, you can very well sell it if you marketable title and physical possession of the proeprty.
5. You need to show your identity card and produce some other id proofs
6. Once the immovable property has been transferred by a registered deed during her lifetime, then the testamentary disposition already made by her shall stand automatically cancelled
1. If she is the title holder of the said flat, she can transfer the title of the said flat in your favour by registering a gift deed in your favour..
2. . You shall have to pay the stamp duty and also the registration fees which will depend upon the value of the flat while registering the gift deed.
3. You won't have to pay any Income tax on the value of the said flat gifted to you.
4. You can sell the said gifted flat even on the same day after the gift deed is registered in your favour.
5. the donor and the donee are required to show the identification card and also mention the PAN card no. in the said gift deed.
