The act of gifting property to a relative in India is a common practice rooted in cultural values, familial ties, and a sense of generosity. However, beyond the emotional aspects, it is crucial to understand the legal implications, particularly in relation to stamp duty. This article delves into the question: Do you have to pay stamp duty to gift your property to a relative in India? We will explore the nuances of stamp duty regulations, exemptions, and the legal considerations involved in the process.… Read more
Everything You Need to Know About Gifting a Property in India
Section 122 of the Transfer of Property Act defines ‘present’ as the voluntary transfer of certain current transportable and immovable assets from a donor to a donee. There are, nevertheless, some requirements for a present, such as the present being physical and its possession being transmitted through the donor and normal through the donee. … Read more
