Gifts of immovable property: exemptions where receipt below stamp duty value is not taxed, including relatives and inheritance. No tax arises on immovable property received for less than stamp duty value when the property is received from relatives, by an HUF from its members, on the occasion of marriage, under a will or by inheritance, in contemplation of death, from a local authority, from specified charitable or educational institutions and registered trusts, or through transactions not regarded as transfer such as HUF partition distributions, prescribed intra group transfers, amalgamation, demerger and specified banking or co operative reorganisations, and transfers to trusts benefiting an individual's relatives.