As the owner of a self-acquired property, can I give as a gift one flat to my grandson(major one) free of payment and other encumbrances of estate duty, etc. free of charge?
If so, then what is the procedure?
chand malhan 27 December 2023
As the owner of a self-acquired property, can I give as a gift one flat to my grandson(major one) free of payment and other encumbrances of estate duty, etc. free of charge?
If so, then what is the procedure?
Advocate Bhartesh goyal (advocate) 27 December 2023
Yes, being absolute owner you can gift your property to anyone as per your wish.No any person has right to make objection in this regard.
T. Kalaiselvan, Advocate (Advocate) 27 December 2023
There is no restriction on you to transfer the self acquired property to anyone of your chioice by any mode of transfer.
The transfer of property by this mode will neither attract long term capital gains tax to you as a donor nor it will be a taxable asset in the hands of the beneficiary
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