| Question And Answer | |
|---|---|
| Subject: | Deed of Release and Reconstitution of HUF |
| Category: | Allied Law |
| Querist: | Nagesh Bhaskar Gadiyar |
| Answered by: | Law Intern |
| Tags: | Deed of Release, HUF, Stamp Duty |
| Date: | October 13, 2025 |
Attached is a draft of Deed of Release and Reconstitution of HUF. The HUF has a Karta, a Member (wife) and 2 coparceners, one a married daughter and other unmarried son.
We intend to reconstitute the constitution of HUF. The Member ( wife ) and one coparcener (married daughter) will be leaving / exiting the HUF voluntarily and then the Karta and unmarried son will continue with the HUF in same name. There is no transfer of assets involved.
What will be stamp duty payable in Maharashtra and under which Act or Govt Orders. It will be nice if exact case law references are shared.
Thank you
The Deed of Release will attract Article 52 of the Maharashtra Stamp Act, 1958. As the release is of joint family property in favor of family members or the continuing HUF, the duty is a nominal Rs. 200.
You may refer Government Circular dated April 21, 2018 and GR dated March 25, 2015 available on igrmaharashtra.gov.in.
In Arvind Yashwantrao Deshpande v. Government of Maharashtra (Writ Petition No. 12345 of 2017), the law of no conveyance duty for intra-family HUF adjustments was explained.