Where any property is partitioned, the largest share which is remaining after the partition is Exempted from Stamp Duty. Stamp Duty shall be paid on the remaining portiions of the property at the Rate of Rs. 10/- for every Rs. 500/- worth (Market Value) of Property.
Stamp duty on partition of huf
Karta of a HUF desires to dissolve the huf and distribute a immovable property in mumbai in the individual names of family members, who are also coparcenors, viz self, wife and two adult daughters in the proportion of 10%, 80%,5%,5% respectively or 10%, 90% ,0%,0% alternately. What will be the stamp duty payable in mumbai assuming the property value is about 2.5 crores.
Asked 3 years ago in Property Law
Religion: Hindu
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6 Answers
I read somewhere that coparcenors can execute release deed in favour of others and as it will be a transfer within the family the stamp duty will be only Rs.200. How does this work.
Asked 3 years ago
pursuant to mutual partition, the respective shares mutually agreed between the HUF members to be transferred to the respective beneficiary, then release deeds can be made on stamp paper of Rs. 200 only
In Maharashtra there's no stamp duty payable for the immovable property transferred or partitioned among the family members.
A minimum amount of ₹ 500 is payable towards registration charges.
You have read it rightly.
There's no stamp duty payable for transfers within blood relatives
Dear client, The stamp duty charge in Mumbai is 5% to the value of property.
It will be 4 to 5 percent
