Jammu, March 30 (IANS) In a relief to people intending to transfer their properties to children or siblings, the J&K government on Sunday announced a complete waiver of stamp duty on such documents executed by the transferor to the transferee.
The office of Chief Minister, Omar Abdullah, said on X: “As a reform measure aimed at public ease and as announced in Budget 2025, the Notification for remission of Stamp Duty on Gift Deeds within blood relations has been issued.”
“Come April 1, such land transfers between close family members will attract zero stamp duty in J&K. #JKBudget2025”.
A notification to this effect has been issued by the J&K Finance Department.
“In exercise of power conferred by clause (a) of Section 9 of the Stamp Duty act 1977, the government being satisfied that it is necessary to do so in the public interest, hereby remit stamp duty in respect of transfer of property by virtue of gift deed with blood relations, subject to production of any of the two documents mentioned in annexure A to this notification in respect of both transferor and transferee,” it said.
For the purpose of this notification, the blood relation means father, mother, brother, sister, son, daughter, grandfather, grandmother, grandson and granddaughter, it added.
Till the waiver of stamp duty on transfer of such properties by virtue of a gift deed, the transferor of such a property had either to pay stamp duty or execute a document, whose legality would often be challenged by those not figuring as beneficiaries of such gift deeds.
Even entries made by the ‘patwari’ (village revenue clerk) in the revenue records wherein both the transferor and the transferee had put down their signatures/thumb impressions in the presence of witnesses have been declared as null and void by the civil courts for want of non-payment of stamp duty.
This anomaly faced by thousands of locals in J&K has been set at rest by the government waiving off the stamp duty on such property transfers.
The blood relations can now have such documents registered in the courts of law without paying any stamp duty, and will have to pay only a nominal amount as court fees for registering such documents.
–IANS
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