Gift to your Mother
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I treat my daughter like my son. I borrowed money for her very specialised overseas higher education so she could be independent. She completed her education with distinction & returned home. She now has an independent career. She will get married in the near future. She has a house in her own name. Before marriage, she wants to gift it to her mother for her old age security. The Government of Maharashtra has exempted various combinations of property gifts to relatives from payment of Stamp Duty. Surprisingly & shockingly there is no exemption from stamp duty on gift of house by daughter to aged mother. Is it not unfairly discriminatory that a child after growing up wants to gift a house to aged parent , but is required to pay full rate of heavy stamp duty? Let us petition the Maharashtra Government to recognise & appreciate that children should be encouraged to gift property to aged parents & to exempt such gifts from payment of full heavy stamp duty particularly when gifts of property among several other relatives is exempted from payment of stamp duty.
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