SRINAGAR: The Jammu and Kashmir government has waived stamp duty on property transfers through Gift Deeds within blood relations.
Stamp duty on property transfers within blood relations is a tax levied on gifting property between close family members.
The exemption, notified under S.O. 75 by the Finance Department, will come into effect from April 1, 2025.
According to the notification, the stamp duty waiver applies to transfers between a father, mother, brother, sister, son, daughter, grandfather, grandmother, grandson, and granddaughter.
The order, issued under clause (a) of Section 9 of the Stamp Act, 1977 (XL of 1977), states that the government took this decision in the public interest. (KNO)
