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Ews reservation

Querist : Anonymous (Querist) 03 October 2021 This query is : Open 

My father owns a flat of size 1300 sq ft and a residential plot of size 2000 sq feet. We are planning to sell both of them to our relatives as a gift deed. The income from the sale of both will be zero.

Can I be qualified under the EWS reservation? My family income is less than 8 lakh. and once we sell both the properties may family has no assets at all.
kavksatyanarayana (Expert) 03 October 2021
You are planning to sell the properties to your relatives as a gift deed. Then gift tax will be levied and they are paying consideration, why do they agree to execute a Gift? The annual income of the parents from all sources shall not be exceeded Rs.8 lakhs, then eligible for EWS.
Querist : Anonymous (Querist) 03 October 2021
yes. in this case it should be

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