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Tuesday, July 5, 2022

Stamp Duty: Now relatives will not have to pay stamp duty while transferring property! This state changed the rules

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Stamp Duty Waived: The Yogi Government of Uttar Pradesh has decided to make a big change in the property transfer rules, giving big benefits to the common people. Now people will not have to pay Stamp Duty Waived while transferring property to their close relatives. With this, now people will transfer property to their relatives for only 6 thousand rupees. Let us tell you that according to the earlier rules, while transferring property to any relative, you had to deposit 7 percent as stamp duty. After the change in the rules, now those people will get big benefit who want to transfer their property to their son, daughter, brother, wife, husband etc.

Let us tell you that earlier if a person sold his property to someone else, then he had to pay tax and stamp duty. On the other hand, you had to pay stamp duty on transfer of property to a relative, but now after the change in the rules, you will not have to pay stamp duty. So let us know how much fee you have to pay.

have to pay so much fee
After the change in the rules, you will no longer have to pay only 7 percent stamp duty. Now only you have to pay Rs 5,000 while transferring property to relatives. Along with this, you will have to pay an additional charge of Rs 1,000. This rule includes relatives like father, son, daughter, mother, brother, sister, grandson, grandson etc.

Government was getting tax loss
Significantly, due to the high stamp duty, people avoid transferring their property to their relatives. Instead, he transfers the power of attorney of his property to his relatives. Due to this, there is an additional burden of lakhs on the people. In such a situation, the government is also suffering a loss of tax. In such a situation, after the change in the rules of the government, both the government and the people will get big benefits.

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