Deduction of stamp duty on instruments treated as gifts clarified: stamp duty attributable to the gift portion is deductible. Deduction under the Gift tax Act is available for stamp duty paid on instruments effecting a gift irrespective of the instrument's designation; the deduction is limited to the portion of stamp duty attributable to the gift. Where gift tax arises because declared consideration is below fair market value, stamp duty is not deductible for the excess value since no stamp duty would have been paid on that excess.