mother wants to gift her property in balkum thane to her son by registered gift deed.. is there lbt of 1%to be paid? or

Malondkar,

9th November 2015

Legal in Thane

gift deed

lbt

gifted property

lbt on gift deed

no stamp duty for gift deed

no vat on gift deed

local body tax in maharashtra

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Hi,
Check the Title of the flat is clear or not. You don't need to pay Service Tax and VAT. Builders charge because it is thier regular course of business of building and selling so they charge Taxes. (but not of that Lady)
Registration charges should be paid by you. After Registration is over. check the doucments online on Registration website showing details of Flat and Sale Deed Number. Is in your name and details of the flat are updated on the website. (Encumbrance Certificate EC is record of registered documents over a property check on website of Registration and Stamps Department).

Rakshit, Mumbai

20th November 2015

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I think Rakshit is right.
You need not pay VAT & Service Tax as the same is applicable only when you purchase flat from the builder. But in your case, mother is gifting property to her son.

Bikram, Mumbai

20th November 2015

No, you don't have to pay any LBT on gift deed. No Stamp Duty required for registration of Gift Deed between blood relatives.

Dev Patel, Mumbai

15th November 2015

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