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Property issue

Querist : Anonymous (Querist) 05 November 2017 This query is : Resolved 
My wife has a property in her name, which came to her by way of gift from her mother. Now she want to gift that property to minor son of his brother. Whether she can do so or not? If she can do so, what are the procedures to be followed by her?.

Ms.Usha Kapoor (Expert) 06 November 2017
Yes,. he can gift away the property in favor of her brother's son without attracting gift tax/.She should execute the property gifted by a registered through a registered gift deed where give and take/acceptence by the donee should be clearly mentioned.. She can gift away the property to her brother's minor son either through his mother as next friend guardian o r his father who is his natural guardian .
Vijay Raj Mahajan (Expert) 06 November 2017
Gift deed for minor need to be through natural guardian who in this case be the father of minor.
The duty to be paid on Gift Deed registration depends from State to state in India. It has to be checked from the Sub-Registrar or Tehsil office of the district where property situated the exact amount of duty and tax to be paid for Gift Deed registration.
Rajendra K Goyal (Expert) 06 November 2017
No advice to an author who is anonymous.

You can post the query in fresh thread with your identity and material facts.
Dr J C Vashista (Expert) 07 November 2017
Sorry, no reply for anonymous author.


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