Hello,
1% LBT is applicable in Pune registration jurisdiction. You have to pay 200 stamp duty and 200 registration fees for transfer to any of heirs as gift.
Regards
LBT
My Father wishes to transfer one of his apartments in my name by way of a gift deed. We reside in Pune Municipal Corporation limits. Will I have to pay LBT on this transfer? If yes, what is the rate?
Asked 6 years ago in Property Law
Religion: Hindu
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3 Answers
LBT has been repealed
2) GST is supposed to subsume all present indirect taxes from central excise and VAT to Octroi/ LBT and even various cesses. Section 173 and 174 of the CGST act omits/repeals such taxes
3) the SGST acts of the States would, in a similar manner, repeal State taxes like VAT, entry taxes, luxury taxes -
LBT is not applicable to any transaction of property and Registrar cannot insist on payment of LBT for such deals.
