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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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 3 Replies

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.

1 Like

Isaac Gabriel (Advocate)     23 December 2020

Gift tax will be levied for the value.

Balusa Somasekhar   15 February 2021

Gift given to relatives exempt from gift tax

 


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