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of <h1>Immovable property received without consideration over Rs. 50,000 is taxable; excess value also taxable under specific conditions.</h1> If an individual or Hindu Undivided Family (HUF) receives immovable property without consideration and its stamp duty value exceeds Rs. 50,000, it is taxable. If received for consideration, and the stamp duty value exceeds the consideration by more than Rs. 50,000, the difference is taxable. From A.Y. 2014-15 to A.Y. 2018-19, if the stamp duty value exceeds 110% of the consideration, the excess is taxable. If the agreement and registration dates differ, stamp duty is based on the agreement date, provided the payment was made via specified methods. Disputes over stamp duty value can be referred to a Valuation Officer. A temporary increase in the safe harbour limit to 20% was applicable for certain residential property transfers between November 2020 and June 2021.
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