Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Arvind Gupta   24 January 2020

Gift of my unregistered flat to married daughter

I have purchased a 2 BHK new flat in 20 lacs from a builder in Bhopal.It was financed partly by a bank,partly by my retired husband and partly by my businessman son in law.I have repayed entire bank loan and got N.O.C.by them.Although the builder had given me possession of completed flat on 15-10-2019 , but he had taken Undertaking that I would register Sale Deed of the flat within 4 months i.e.upto 15-02-2020.So far it is unregistered ,even Bank had not insisted for it at the the time of disbursement of housing loan.Now I want to gift the flat to my housewife daughter , who is my only child and has small income and filing I.T.returns from many years.The builder is agree to transfer flat on the name of my daughter , on the basis of my Affidavit , on which I have to declare that all the amount for purchase of flat belongs to my daughter and she will be absolute owner of the flat and I will not claim on flat , any time in future.I want suggestions of Learned & Experienced Legal experts for most appropriate solutions before my Affidavit to Builder and subsequently registration of Sale Deed in favour of my daughter.In M.P., registration charges for Sale Deed of property and Gift Deed are same.Hence if first I go for registration of Sale Deed of flat in my favour and thereafter I go for registration of Gift Deed in her favour, I have to incur double expenses for registration of both deeds.I do not want to write will for my daughter for flat .I also do not want any problem to my daughter by Income Tax Department/Authorities in future.


Learning

 1 Replies

Sb Karma   24 January 2020

No there will be no complex dificulties to your daughter.

But please consult any good CA(local) and ask him to include all details in return(tax). He will suggest you best with all your documents.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register