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Sidhartha Agarwal   19 February 2019

gifting a flat

My wife's boyfriend wants to buy a flat and gift to my wife.what are the tax liability to us. Please advise


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 2 Replies

kavksatyanarayana (subregistrar/supdt.(retired))     19 February 2019

You have to pay gift tax.  for tax purpose consult local CA.

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SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     20 February 2019

The value of the apartment shall be added to the income of your Wife and accordingly, the tax shall be assessed.  As already advised by Shri K A V K satyanarayana, you may approach a Chartered Accountant for better clarification.

 


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