Stamp Duty on gift of Shares

[shivani dhasmana]

Is it mandatory to execute gift deed for transfer of shares by way of gift (the transfer is to be effected within the members of the family)...if yes what is the rate of stamp duty to be paid in delhi??

[Arun Upadhyay]

Gift Deed is mandatory

On 25 Mar 2017 12:11 p.m., "shivani dhasmana" <shivani.d...@gmail.com> wrote:

Is it mandatory to execute gift deed for transfer of shares by way of gift (the transfer is to be effected within the members of the family)...if yes what is the rate of stamp duty to be paid in delhi??

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[shivani dhasmana]

As per provisions of Transfer of Property act Registration of movable property is not mandatory...can u please quote the relevant provisions

Regards

CS Shivani Dhasmana

[Arun Upadhyay]

Yes rite...u hv to just made a gift deed...registration is not required for the same.

[shivani dhasmana]

Thanks Sir

Regards

CS Shivani Dhasmana

[Chandravijay Shah & Co.]

Such Gift is subject to Stamp Duty which is payable on an Instrument. In this case, Instrument is Gift Deed. Unless Gift Deed is executed, Payment of Stamp Duty will not be feasible.

 

Hence, execution of Gift Deed is a must.

 

Please be informed we are talking about Stamp Duty, not Registration. Latter is not mandatory in case of Transfer of a Movable Asset, say, Share.

 

From: csmy...@googlegroups.com [mailto:csmy...@googlegroups.com] On Behalf Of shivani dhasmana
Sent: 25 March, 2017 12:18 PM
To: csmy...@googlegroups.com
Subject: Re: [CSMysore] Stamp Duty on gift of Shares

 

As per provisions of Transfer of Property act Registration of movable property is not mandatory...can u please quote the relevant provisions

Regards

CS Shivani Dhasmana

 

 

On Sat, Mar 25, 2017 at 12:16 PM, Arun Upadhyay <upadhya...@gmail.com> wrote:

Gift Deed is mandatory

On 25 Mar 2017 12:11 p.m., "shivani dhasmana" <shivani.d...@gmail.com> wrote:

Is it mandatory to execute gift deed for transfer of shares by way of gift (the transfer is to be effected within the members of the family)...if yes what is the rate of stamp duty to be paid in delhi??

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[Sachin Kumar]

NOT MANDATORY.

ONLY REQUIRED FOR TAX PURPOSE.

PLEASE SEE THE ATTACHED ARTICLES RELATED WITH THE MATTER.

With Best Regards,

Sachin Kumar

Phone: 99034-34421

[Venkata Ramanaa]

Any transfer above Rupees one hundred worth of property,movable or immovable, tangible or intangible,is required to be compulsorily registered ,as per the mandatory stipulation of the Transfer of Property Act.

On Sat, Mar 25, 2017 at 12:17 PM, shivani dhasmana <shivani.d...@gmail.com> wrote:

[Arun Upadhyay]

But in case of gift..consideration will be zero..thatswhy registration is not required.

[shivani dhasmana]

And what if we don't execute a deed...What if we effect the transfer by executing a offer and acceptance letter of the gift between the parties..will it be a valid transfer???

Regards

CS Shivani Dhasmana

On Sat, Mar 25, 2017 at 12:26 PM, Chandravijay Shah & Co. <chandrav...@gmail.com> wrote:

Such Gift is subject to Stamp Duty which is payable on an Instrument. In this case, Instrument is Gift Deed. Unless Gift Deed is executed, Payment of Stamp Duty will not be feasible.

 

Hence, execution of Gift Deed is a must.

 

Please be informed we are talking about Stamp Duty, not Registration. Latter is not mandatory in case of Transfer of a Movable Asset, say, Share.

 

From: csmy...@googlegroups.com [mailto:csmysore@googlegroups.com] On Behalf Of shivani dhasmana
Sent: 25 March, 2017 12:18 PM
To: csmy...@googlegroups.com
Subject: Re: [CSMysore] Stamp Duty on gift of Shares

 

As per provisions of Transfer of Property act Registration of movable property is not mandatory...can u please quote the relevant provisions

Regards

CS Shivani Dhasmana

 

 

On Sat, Mar 25, 2017 at 12:16 PM, Arun Upadhyay <upadhya...@gmail.com> wrote:

Gift Deed is mandatory

On 25 Mar 2017 12:11 p.m., "shivani dhasmana" <shivani.d...@gmail.com> wrote:

Is it mandatory to execute gift deed for transfer of shares by way of gift (the transfer is to be effected within the members of the family)...if yes what is the rate of stamp duty to be paid in delhi??

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[Sachin Kumar]

TWO DOCUMENTS ARE REQUIRED:-

1. SHARE TRANSFER DEED-- FORM SH 4. (only in case of physical shares).

2. GIFT DEED     (in case capital gain tax involved).

STAMP DUTY IS PAYABLE @0.25 % ON BOOK VALUE/FACE VALUE/MARKET VALUE, WHICHEVER IS MORE. (even in case of gift, better to affix stamp on SH4 )

With Best Regards,

Sachin Kumar

Phone: 99034-34421

[Arun Upadhyay]

Offer and acceptance both are necessary to constitute a valid gift...these documents r not itself a gift deed

[Chandravijay Shah & Co.]

Is what you suggest “executing a offer and acceptance letter of the gift between the parties” different from GD? Difference may be in the format and contents to some extent, but both the formats would serve the same purpose.

 

What is crucial is Payment of proper Stamp Duty should not be escaped.

 

From: csmy...@googlegroups.com [mailto:csmy...@googlegroups.com] On Behalf Of shivani dhasmana
Sent: 25 March, 2017 12:31 PM
To: csmy...@googlegroups.com
Subject: Re: [CSMysore] Stamp Duty on gift of Shares

 

And what if we don't execute a deed...What if we effect the transfer by executing a offer and acceptance letter of the gift between the parties..will it be a valid transfer???

 

Regards

CS Shivani Dhasmana

 

 

On Sat, Mar 25, 2017 at 12:26 PM, Chandravijay Shah & Co. <chandrav...@gmail.com> wrote:

Such Gift is subject to Stamp Duty which is payable on an Instrument. In this case, Instrument is Gift Deed. Unless Gift Deed is executed, Payment of Stamp Duty will not be feasible.

 

Hence, execution of Gift Deed is a must.

 

Please be informed we are talking about Stamp Duty, not Registration. Latter is not mandatory in case of Transfer of a Movable Asset, say, Share.

 

From: csmy...@googlegroups.com [mailto:csmy...@googlegroups.com] On Behalf Of shivani dhasmana
Sent: 25 March, 2017 12:18 PM
To: csmy...@googlegroups.com
Subject: Re: [CSMysore] Stamp Duty on gift of Shares

 

As per provisions of Transfer of Property act Registration of movable property is not mandatory...can u please quote the relevant provisions

Regards

CS Shivani Dhasmana

 

 

On Sat, Mar 25, 2017 at 12:16 PM, Arun Upadhyay <upadhya...@gmail.com> wrote:

Gift Deed is mandatory

On 25 Mar 2017 12:11 p.m., "shivani dhasmana" <shivani.d...@gmail.com> wrote:

Is it mandatory to execute gift deed for transfer of shares by way of gift (the transfer is to be effected within the members of the family)...if yes what is the rate of stamp duty to be paid in delhi??

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[Venkata Ramanaa]

Unless registered,act of gift is not recognized in eyes of law. Stamp-duty is entailed with registration of deed. Gift must be expressly accepted to be enforced. 

Provisions of law must be read in entirety ,in a wholesome manner.

Best,

PVR.

[shivani dhasmana]

In my case the transfer is between family members and no capital gain tax is involved...and what should be the amount of stamp paper for gift deed... As as per Stamp Duty schedule Gift is Chargeable as Coveyance and the stamp duty for same is "5% of Consideration"...Here the Consideration is Zero...so can we execute gift deed on a stamp paper of Rs. 100??

Regards

CS Shivani Dhasmana

[Arun Upadhyay]

U can execute on 100 Rs stamp paper

[Venkata Ramanaa]

Yes. Minimum,nominal duty payable under slab rates of the relevant State Stamp Duty Act,in force. 

[shivani dhasmana]

Thanks to all professional for their instant replies and knowlegable opinions

Regards

CS Shivani Dhasmana

[shivani dhasmana]

Thanks to all professionals for their instant replies and knowledgable opinions

Regards

CS Shivani Dhasmana