Gift deed

Ritika Ahuja (Querist) 20 December 2018 This query is : Resolved
My Grandfather and his brother are joint owners to a property in Mumbai. If my Uncle (grandfathers brother) through a Gift Deed, gives his share of the property to his son, does he have to
1) take written consent from his brother OR need his brothers acceptance or signature for transfer of the property.
2) Will his son need to pay any tax (stamp duty or registration or any other charges by way of this transfer).
3) Will my grandfathers brother have to pay any taxes for this gift.

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kavksatyanarayana (Expert) 20 December 2018
1.If your grandfather's brother mention the measurement with boundaries for his share only your grandfather;s consent is not necessary. but it is better to divide the property in two shares between your grandpa (includes his children and major grand children) and his brother (includes his children and major grand children). 2 & 3. son has to pay gift tax. however consult local CA.

Dr J C Vashista (Expert) 21 December 2018
If the property has not been partitioned / divided between brothers, he will have to seek consent.
For tax consult local CA