PROPERTY DISTRIBUTION

R_PVK (Querist) 18 July 2009 This query is : Resolved
dear sir
my mother is about to acquire a property woth of 95lakh thru sucession which she intents to distribute as a gift to 9 members of the HUF this includes two House plus certain shares,ornaments,bank balances & utensils pl suggest an easy way leading to proper distribution with minimum liable tax
Regards
R_PVK

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A V Vishal (Expert) 18 July 2009
Mr PVK

What is the relationship between the donor and the donees, based on which it can be advised whether gifts would entail tax or not

a.manoharan (Expert) 18 July 2009
Here no relationship is a criteria , as per hindu law, once the property is in the name of woman , it is always self-acquired property , she can alienate as she likes.She can alienate the same even for dirty and infected dog

A V Vishal (Expert) 18 July 2009
Dear Manoharan

The querist seeks specific advise from tax point of view about transferring the property with the least tax burden, he is not seeking how to transfer the property and whom the property can be transferred.

R_PVK (Querist) 20 July 2009
sir
the relation between donor and donees who she want to donate as a gift are as follows
five own childrens of her & two daughter of her brother
regards
R_PVK