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GIFTDEED (Brief
Introduction)
Definition of Gift. Gift is the transfer of certain
existing movable or immovable property made voluntarily and
without consideration, by one person called the donor, to another,
called the donee, and accepted by or on behalf of the donee.
Acceptance when to be made Such acceptance may be made
during the lifetime of the donor, and while he is still capable
of giving.
If the donee dies before acceptance, the gift is void.
Transfer how effected. For the purpose of making a gift
of immovable property, the transfer must be effected by a registered
instrument signed by or on behalf of the donor, and attested
by at least two witnesses.
For the purpose of making a gift of movable property, the transfer
may be effected either by a registered instrument signed as
aforesaid or by delivery.
Such delivery may be made in the same way as goods sold may
be delivered.
Gift of existing and future property. A gift comprising
both existing and future property is void as to the latter.
Gift to several, of whom one does not accept. A gift
of a thing to two or more donees of whom one does not accept
it is void as to the interest which he would have taken had
he accepted.
When gift may be suspended or revoked. The donor and
donee may agree that on the happening of any specified extent,
which does not depend on the will of the donor, a gift may be
suspended or revoked; but a gift which the parties agree shall
be revocable wholly or in part, at the mere will of the donor,
is void wholly or in part, as the case may be.
A gift may also be revoked in any of the cases (save want or
failure of consideration) in which, if it were a contract, it
might be rescinded.
Save as aforesaid, a gift cannot be revoked.
Nothing herein contained shall be deemed to affect the rights
of transferees for consideration without notice.
The abstract of the Transfer
of Property Act, 1882 Section 122
Section
17 Registration Act, 1908
Ascertain Payment of Stamp duty and Registration
fee.
Ascertain the list of documents
(enclosures) required to be produced at the time of presentation
of the document before the jurisdictional Sub-Registrar.
(i) Stamp duty is payable on the instrument but not on the
transaction. To ascertain the correct
Stamp duty payable one has to see the intention of the document
and words used in it.
(ii) A general format has been designed for the help of
the public concerned. Based on this format
Stamp duty and Registration fee payable on this Gift-deed
is as below:-
Calculation of Stamp duty and Registration fee for Gift made
to the person other than family member.
Example:- (1) If the property gifted is situated within
the limits of City Corporation area or in the Municipal Area
in the State of Karnataka, the Stamp duty payable on Rs.1,00,000=00
value of the property is as follows:-
| 1 |
8% Stamp duty on Rs.1,00,000=00. |
Rs.8,000=00 |
| 2 |
5% Additional Stamp duty on Rs.8,000=00. |
Rs. 400=00 |
| 3 |
2% Surcharge duty on Rs.8,000=00 |
Rs. 160=00 |
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Total Stamp duty payable |
Rs.8,560=00
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In Karnataka
state use of Judicial and Non-judicial stamp papers discontinued
w.e.f. 1-4-2003.
Write document
on Document Sheet or on plain paper.
Stamp duty can
be paid in jurisdictional Sub-Registrar Office or in authorised
Banks.
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4 |
Registration fee @ 1% payable on Rs.1,00,000=00.
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Rs. 1,000=00*
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* (a) Plus copying, endorsement, comparing, filing, record
of rights and postage fee also chargeable.
(b) Registration fee can be paid in cash or through D.D. in
the concerned Sub-Registrar Office at the time of presentation
of the document for registration.
| Grand total of payment of Stamp duty
and Registration fee |
Rs.14,500=00 |
2. If the property gifted is situated within the Taluk Panchayath
Area, the Stamp duty payable on Rs.1,00,000=00 value of
the property is as follows:-
| 1 |
10% Stamp duty on Rs.1,00,000=00. |
Rs.10,000=00 |
| 2 |
5% Additional Stamp duty on Rs.10,000=00. |
Rs. 500=00 |
| 3 |
3% Additional Stamp duty on Rs.1,00,000=00. |
Rs. 3,000=00 |
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Total Stamp duty payable |
Rs.13,500=00 |
Stamp duty can be paid by purchasing Non-judicial Stamp papers
from Government treasury or write document on plain paper and
pay stamp duty in cash or through D.D. in the concerned Sub-Registrar
Office.
| 4 |
Registration fee @ 1% payable on Rs.1,00,000=00. |
Rs. 1,000=00* |
* (a) Plus copying, endorsement, comparing, filing, record
of rights and postage fee also chargeable.
(b) Registration fee can be paid in cash or through D.D. in
the concerned Sub-Registrar Office at the time of presentation
of the document for registration.
| Grand total of payment of Stamp duty and Registration
fee |
Rs.15,500=00 |
Calculation of Stamp duty and Registration fee for family
members . Family member means family in relation
to the donor for this purpose means husband, wife, son, daughter,
daughter-in-law and grand children .
| 1 |
Fixed stamp duty |
Rs.1000=00 |
| 2 |
5% Additional Stamp duty on Rs.1000=00. |
Rs. 50=00 |
| 3 |
2% Surcharge on Rs.1,000=00. |
Rs. 20=00 |
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Total Stamp duty payable |
Rs. 1070=00 |
Stamp duty can be paid by purchasing Non-judicial Stamp papers
from Government treasury or write document on plain paper and
pay stamp duty in cash or through D.D. in the concerned Sub-Registrar
Office.
| 4 |
Fixed Registration fee Rs.500=00 . |
Rs. 500=00 |
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Grand Total |
Rs. 1570=00* |
* (a) Plus copying or Scanning Fee, endorsement, comparing,
filing, record of rights and postage fee also chargeable.
(b) Registration fee can be paid in cash or through D.D. in
the concerned Sub-Registrar Office at the time of presentation
of the document for registration.
The list of documents
(enclosures) required to be produced at the time of presentation
of the document before the jurisdictional Sub-Registrar.
| 1. |
An Identical copy of the Gift-deed. |
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| 2. |
Form No.1.
(in duplicate) |
The Karnataka Stamp
(Prevention of Undervaluation of Instruments) Rules, 1977
to download Form No.1 |
| 3. |
Affidavit
(in duplicate) |
(a) Affidavit should state that Registration of this
document does not violate the notification issued under
Section 22A of the Registration Act, 1908.
Notification Oppose to Public
Policy.
(b) Affidavit should be made on Rs.20=00 Non-judicial
Stamp papers or before executing affidavit it can franked
in any Sub-Registrars Office.
(c) Sub-Registrar is also empowered to attest affidavits
as per Chapter IV Affidavits by the Karnataka Civil Rules
of Practice, 1967. |
| 4. |
Extract of assessment register of the property. |
This extract is necessary to assess the market value
of the property. |
| 5. |
If the property is an agricultural land the following
certificate is necessary in addition to the items specified
from sl.no. 1 to 7 above. |
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(a) Copy of the Form No.16.
(b) No objection certificate from Tahasildar. |
Form 16 means Pahani pathrike, Record of Rights and
Tenency particulars. Commonly called as RTC.
If the property is a granted land or occupancy rights
have been granted under Land Reform Act, 1961 then no
object certificate from the concerned Tahasildar.
For details Click on Circular No.III
on Opposed to Public Policy. |
Format of Gift-deed
Note: This is only a draft format and not a format prescribed
under any law. This format can be used with modifications suiting
to your requirements wherever it is necessary. In case of doubt
regarding payment of Stamp duty and Registration fee etc. contact
the concerned Sub-Registrar / District Registrar
You can download this Gift-deed format
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