Do I need to pay stamp duty on gifts I give to someone? For example, if I want to gift my friend ₹3 lakhs, will I have to pay any stamp duty?

Apni Law
Apni Law
Law Forum › Category: Documentation › Do I need to pay stamp duty on gifts I give to someone? For example, if I want to gift my friend ₹3 lakhs, will I have to pay any stamp duty?
Vote Up
374
Vote Down
Apni Law Staff asked 3 years ago

Do I need to pay stamp duty on gifts I give to someone? For example, if I want to gift my friend ₹3 lakhs, will I have to pay any stamp duty?

1 Answers
Vote Up
37
Vote Down

Best Answer

Apni Law Staff answered 3 years ago

In India, stamp duty is generally applicable on transfer of property, not on gifts of money. Therefore, you would not need to pay stamp duty on a gift of ₹3 lakhs to your friend.

You Might Also Like

Can someone with a good academic record sign a property transfer agreement in India?

I’m planning to open an electrical service center in Chennai to fix home appliances. Could you guide me on the registration process with the Indian government?

How can I legally change my father’s name in India? What are the steps involved and how much will it cost?

My uncle is a farmer, and I’m planning to rent a place from him. Could you please explain the process for making a rent agreement?

Can someone be stopped from pursuing a career in law, like in India, just because they have a case pending in court?

Share This Article
Previous Article My friend was tragically killed in a road accident in Rohini Sector 7. He was a pillion rider on a bike carrying three people, the driver didn’t have a license, and the bike wasn’t insured. The driver was also under the influence of alcohol when he crashed into a car. He even gave false information to the police. Can we file a case and seek compensation from the bike owner or driver?
Next Article My cousin is facing a difficult situation. He’s been wrongly accused along with his friend in a case where a young girl went missing. The girl’s father filed a complaint, naming the friend as the primary suspect. My cousin was only arrested because he’s often seen with his friend. The girl’s father later retracted the complaint claiming she was found, but then vanished, leaving my cousin and his friend in a legal limbo. Now, with 10 days passed and the father still missing, my cousin and his friend are released. We hear the friend’s family may have bribed the police. Could the police manipulate the case and put all the blame on my cousin? What is the typical waiting period for the court when the complainant is absent, and what legal options are available in this situation?

Follow US

Find US on Social Medias
Popular News
- Advertisement -
Ad imageAd image

📢 Stay Connected!

Join our community on Telegram and WhatsApp for instant updates, news, and exclusive offers.