harsh chauhan (businessman) 23 December 2020

Gift property to relative

can you gift a residential property to mother’s sister’s daughter - [mosi ki ladki]. Will it be considered as a gift to relative ? How do we show it in ITR ?

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Quick Summary

You can gift immovable property to anyone, including relatives like your mother's sister's daughter. A gift deed must be properly executed and registered. While gifts to relatives are generally exempt from gift tax, it's important to correctly declare the gift in your Income Tax Return (ITR).

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Advocate Bhartesh goyal (advocate) 23 December 2020

You can gift immovable property to anyone whether he or she is your relative or not. Gift deed should be duly executed and registered with sub registrar office.

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