Gift property to wife

Querist : Anonymous (Querist) 20 December 2011 This query is : Resolved
sir,
if i wish to gift flat to my wife so that rental income will be of her income,weather i have to file gift deed and pay stamp duty and registration again??

Follow Query

Report Abuse

Shastri J.K. (Expert) 20 December 2011
Yes, U'll pay stamp duty and registration again...

Sailesh Kumar Shah (Expert) 20 December 2011
yes, for transfer property as gift, you have to pay stamp duty and registration charges.

Advocate M.Bhadra (Expert) 20 December 2011
The property in your name you can gift to your wife by executing a Gift Deed but you have to pay stamp duty and registration charges as per provision of law.

Nadeem Qureshi (Expert) 20 December 2011
I am agree with Ld. Friends

Devajyoti Barman (Expert) 20 December 2011
Yes, execute a gift deed in favour of your wife after paying the requisite stamp duty.
Once gift deed is executed she would become its absolute owner.

Raj Kumar Makkad (Expert) 20 December 2011
The reply of all experts is common in the given case so it is better not to change the title as the transfer of title shall require many times more expenses than you desire to save by showing it an income of your wife rather of you.

prabhakar singh (Expert) 21 December 2011
Truly speaking if your decision is based on saving of tax only then better you first do the home work for arithmetically knowing what is going to be saved over a period of say [n years]and what is going to be paid as stamp duty and registration cost just now then do the discounting of money only then if there is some benefit then take the decision otherwise not.

Explore chances to create a registered lease in favor of your wife with a right to sublease that depends on rents shown in returns in past as any fresh lease would not be possible to be shown below that figure else transaction will be doubted by tax authorities.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries