Hi
My uncle and his son are co-owners of a property.
Can my uncle 'gift' his share of property to the other co-owner i.e. his son?
Can this be challenged by saying that this is not a gift but a relinquishment of right?
I am asking this because 'Gifts' to relatives are exempted from income- tax while relinquishment is subject to tax.
Further, my uncle's son stays abroad and my uncle holds POA of his son.
Is it required for my uncle's son to be physicaly present for registering the gift deed or my uncle can do so with POA? (for gift from Uncle to his son)
Regards
