Jammu & Kashmir Government Waives Stamp Duty on Gift Deeds Between Blood Relatives
In a significant move aimed at easing financial burdens on families, the Government of Jammu and Kashmir has issued Notification S.O. 78, remitting the Stamp Duty on the transfer of property through Gift Deeds among blood relations. This new rule comes into effect on April 1, 2025, and is expected to benefit many families across the Union Territory.
Key Highlights of the Notification
- Stamp Duty Remission: The government has waived the stamp duty for property transfers via Gift Deeds between blood relatives.
- Eligible Relationships: The waiver applies to transfers involving:
- Parents (Father, Mother, Grandfather, Grandmother)
- Siblings (Brother, Sister)
- Children (Son, Daughter, Grandson, Granddaughter)
- Required Documents: To avail of this benefit, individuals must submit any two of the following documents:
- Aadhar Card
- PAN Card
- Ration Card
- Passport
- A Relationship Certificate issued by the concerned Tehsildar (as per Annexure-B)
How to Obtain a Relationship Certificate
If other documents are unavailable, applicants can obtain a Relationship Certificate from the Tehsildar's office. The certificate must include:
- Names of the parties involved
- Nature of the relationship
- Age and address details
- Signature and stamp of the issuing authority
Why This Matters
This move is expected to:
- Reduce financial strain on families transferring property as gifts.
- Simplify legal processes by minimizing documentation and costs.
- Encourage familial property transfers without tax-related hesitations.
Effective Date
The notification will be effective from April 1, 2025. Families planning property transfers should ensure they have the necessary documents ready to take advantage of this waiver.
For further details, refer to the official notification or visit the Jammu & Kashmir Finance Department's website.
Stay tuned for more updates on property laws and tax benefits!
Disclaimer: This blog is for informational purposes only. Please consult a legal expert for specific advice.
