Learn about
Remember | Register | Forgot Password?
Bookmark This Page   RSS Feeds  Follow On Twitter

 

         
    

Home > Experts > Taxation > Gift tax



Please Wait ..

Gift tax (Taxation)

Report Abuse
This query is : Resolved


Author : Nilay Banerjee
PRO CHAT CALL

Posted On 29 July 2012 at 17:13

My friend wants to gift a piece of land to his father which he purchased 1 year back,the current govt valuation of the land is 40Lac, is there any taxaion in any one's part either donor or donee?




Expert : prabhakar singh
PRO CHAT CALL

Posted On 29 July 2012 at 17:30

No taxation is attracted as DONOR son is not gaining any thing out of this transaction and
Donne being relative(father) of the Donor,is exempted from paying any gift tax,no matter of what value the property is.



Expert : ajay sethi
PRO CHAT CALL

Posted On 29 July 2012 at 18:03

yes agree that no gift tax is payable . but have gift deed duly stamped and regd


Previous
Next

You need to be the querist or approved Lawyersclubindia expert to take part in this query .


Click here to login ( Members Login ) now








Quick Links



Browse By Category


Subscribe to Experts Feed
Enter your email to receive Experts Updates: