Avoid property tax

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

04 July 2012 Hi,

I am planning to buy my father's home thorugh home loan from nationalized Bank.

Is there any way to avoid buying property taxes (e.g. regisration tax and stamp duty)?

Is Power of Attorney work in this case?

Appreciate your valuable advise.

Thanks.

CA. Hari Kishan

CA. Hari Kishan (Expert)
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04 July 2012 If the property is owned by father, the same can be gifted and the stamp duty shall also be a meger amount of Rs.1100 to 1500.

Querist : Anonymous

Querist : Anonymous (Querist)

04 July 2012 Thanks for your advice.

Yes, it is very much owned by my father.

Is it possible to get home loan and having registered gift deed of the house.

How we can process with Bank regarding the same.

Could you please put more light on the same.

Thanks.

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