Gift Deed Registration
A gift refers to the transfer of certain existing moveable or immovable property by one person to another. The transfer should be made voluntarily and without consideration. The person transferring the property is called the donor. The person to whom the property is transferred is referred to as the donee. The donee must accept the property during the lifetime of the donor and while he is still capable of giving it. The gift can be affected through a gift deed registered in the Sub Registrar Office.
There is no restriction on the power of the donor to gift his self acquired property. He can gift the property to anyone - his family members like son, daughter, mother, father, brother, sister, grand children or even to strangers such as temple, religious trusts etc through a registered gift deed.
Any person who is competent to contract can make a gift of his property. A minor, being incompetent to contract, is incompetent to make a gift. However, a minor can accept gifts. A gift to be valid must be made by a person with his free consent and not under compulsion. The donor must not be insane.
The transfer of property must be voluntary and made gratuitously. It must satisfactorily appear that the donor knew what he was doing and understood the contents of the instrument and its effect, and also that undue influence or pressure was not exercised upon him and that he had a clear intention to make a gift.
A gift of immovable property can only be made by a gift deed duly registered in the Sub Registrar Office after payment of adequate stamp duty. A gift of immovable property, which is not registered, is not valid in law and cannot pass any title to the donee. The gift deed should be stamped with the appropriate stamp duty, registered in the sub registrar office and attested by at least two witnesses. Mere delivery of possession without a written gift deed cannot confer any title.
Important points to note in relation to registration of Gift Deed in Delhi are :
1. Stamp duty is payable @ 4% if the donee is a woman and @ 6% if the donee is a man even if the gift is being made to a family member such as Son, Daughter, Wife, Husband, Sister, Brother etc.
2. Registration fee is 1% of the total value of Consideration and Rs. 100/- for pasting charges.
3. Both Donor and Donee have to be present in the registrar office alongwith identification douments i.e., PAN Card, Election Card, Passport, Driving License etc. at the time of presentation. However, PAN Card is preferred.
4.Two witnesses alongwith identification documents need to be present during the Presentation before the Sub-Registrar for the Registration of Gift Deed.
We provide services for the Drafting and Registration of Gift Deed all over Delhi .
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