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taxation-co-ownership of house property
by k.chandrasekharan on Sep 11, 2006 11:29 AM

Mr.Roongta has correctly provided the legal provisions for the querist who wants to acquire co-ownership of the property registered in his spouse's name.While the process can be by a gift deed,donating a definite share in the proprty,without consideration,it attracts stiff stamp duty as correctly pointed out in the answer.But,if the property is situated in Karnataka,(place not mentioned),there is a family settlement provision,which is a form of gift deed,which attracts a stamp duty of Rs.1000/-+regn.fee of Rs.500/- only,irrespective of the value of the property.K.Chandrasekharan-advocate

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