Gift from father to daughter

Jeevanjot Singh (Querist) 16 September 2016 This query is : Resolved
father paying allotment money and subsequent installment for the property on his daughter name and almost 50% coming to around 8 lakh already paid by him. is there any tax liability on the married daughter who is also earning and govt class 1 officer.

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Raj Kumar Makkad (Expert) 16 September 2016
No. Daughter being donee of immovable property from her father is not liable for the tax liability.

Kumar Doab (Expert) 17 September 2016
The property is on daughters name and is a government servant.

Father is paying allotment money and subsequent installment.

If it is gift then, It is felt that gift received in cash or kind from relatives is exempted from tax.

The donor may show as drawn from capitol and recipient may add to capitol.

Rest your ITax counsel can guide you further.

Rajendra K Goyal (Expert) 17 September 2016
No tax liability if gift is to specified blood relation.

Raj Kumar Makkad (Expert) 25 September 2016
Tax is not levied against the transaction of gift, however, property tax is to be borne by donee after its gift.

Rajendra K Goyal (Expert) 27 September 2016
Income of the gifted property would be added in the income of donee.

Kumar Doab (Expert) 27 September 2016
The property is not gifted!

The author has paid the allotment money and installments, for daughter.

Apparently NO gift is made in writing.

The daughter is Govt.Servant.

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