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Stamp Duty, Registration Fees, Transfer Tax Interview Questions & Answers - Learning Mode

Stamp Duty, Registration Fees, Transfer Tax Interview Questions & Answers - Learning Mode

If you decide to purchase property than in addition to cost paid to seller. You must consider additional cost to transfer that property on your name. That cost include registration fees, stamp duty and transfer tax. This is required for preparing legal document of property. In simple sense this tax is imposed on the handing over of the title of property ownership by one person to another. It incorporates a legal transaction fee & stamp duty. This amount varies from property to property based on cost.

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Stamp Duty, Registration Fees, Transfer Tax Interview Questions & Answers - Learning Mode
Try Stamp Duty, Registration Fees, Transfer Tax Interview Questions & Answers - Exam Mode
Question: How do I determine the market value of property for the purpose of payment of Stamp Duty?

Answer: The market value of property is the value it would fetch if it were sold in the open market as stated in Section 47A of the Indian Stamp Act, 1899. To determine the market value of a property one may refer to the market value guidelines registers which are published and sold through the offices of the concerned Sub Registrar and District Registrar. Source:
Question: What is the tax liability on gifted immovable property?

Answer: If the following conditions are satisfied, an immovable property received as a gift will be taxable:
i) Immovable property, being land or building or both, is received by an individual,
ii) The immovable property is a capital asset under Section 2(14) of the Income Tax Act,
iii) The stamp duty value of such immovable property received without consideration exceeds Rs. 50,000. Source:
Question: Is registration of gift deeds mandatory?


Registration of a gift deed transferring an immovable property is mandatory. In absence of written instrument executed by donor, attestation by two witnesses, registration of the instrument and acceptance thereof by the donee (i.e. the transferee), the gift of immovable property is not complete. Registration of a document including gift deed implies that the transaction is in writing, signed by the executant, attested by two competent persons and duly stamped before the registration form Source:
Question: What is the applicable stamp duty on gift deeds of immovable property?

Answer: The stamp duty on a Gift varies from state to state and most of the state governments also have a provision for relatively lower rates of stamp duty for women (in Delhi, stamp duty is payable @ 4% if the donee is a woman, and @ 6% if the donee is a man). The Maharashtra government has waived off stamp duty on transfer of immovable property by its owner to an heir or a family member. Source:


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