vinay mittal 12 September 2015
Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108) 12 September 2015
1. There is no Income Tax liability if Gift Deed (only residential and agricultural property) is registered in favour of "husband, wife, son, daughter, grandson, grand-daughter, wife of decesed son".
2. For all other type of property gifted to any other categories (to the exception of the above) is duly taxable, at variable rates (confirm this with local CA)
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saravanan s (legal advisor) 12 September 2015
you can gift the property to anyone you wish.only thing is the stamp duty is more when compared to gift deed done to blood relations
Kumar Doab (FIN) 12 September 2015
Agrred with Experts.
Kumar Doab (FIN) 12 September 2015
Repeated Query.
Adv. Yogen Kakade (+ 91 9225510883) 14 December 2015
You can refer the rules of gift deed law in transfer of property act and many other case laws.. that will guide in solving your specific query
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