Can aunt give a house as a gift to his nephew?

Ankur Choudhary (Querist) 14 March 2024 This query is : Resolved
Can aunt give a house as a gift to his nephew ? If aunt give a house as a gift then nephew will have to pay tax or not ?

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Yes, an aunt can legally gift a house to her nephew by executing a registered gift deed. The aunt, as the donor, is responsible for paying the stamp duty and registration charges. Importantly, neither the aunt nor the nephew will typically pay capital gains tax at the time of the gift. However, the nephew will be liable to pay capital gains tax when he eventually sells the property.

Isaac Gabriel (Expert) 14 March 2024
The aunt need to pay the stamp duty as the nephew not under family for exemption or concession.

kavksatyanarayana (Expert) 14 March 2024
If the house is your aunty's property she can gift it to her nephew or anyone but tax is not exempted to my best. Consult a local CA for tax purpose.

T. Kalaiselvan, Advocate (Expert) 14 March 2024
The property holder, if having a clear and marketable title can transfer the property by any mode to a third person, including by a gift deed, in this case there is no legal infirmity in the aunt transferring her property to her nephew by executing a registered gift deed.
The stamp duty payable along with the registration charges are to be borne by the donor alone and not be donee.
If the donee pays the stamp duty then it becomes sale deed.
No tax is payable by the donee for receiving the property as a gift from his aunt and the aunt is also not liable to pay the long/short term capital gains tax since she has not sold the property for any consideration.
The donee would be liable to pay the capital gains tax as applicable at the time of selling this property.

Advocate Bhartesh goyal (Expert) 14 March 2024
Well adviced by expert T.kalaiselvan Advocate. I concur with his opinion.

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