Capital gain tax & gift tax, stamp duty
SAMIR SHAH
(Querist) 08 April 2013
This query is : Resolved
THERE ARE 2 FLATS ONE IN THE NAME OF SON AND ONE IN THE NAME OF FATHER. A FLAT TRANSFERRED BY SON TO HIS FATHER AND FATHER TO HIS SON ON FAMILY ARRANGEMENT BE TAXABLE. OR SHOULD IT BE GIFTED TO EACH OTHER. WILL THERE BE ANY TAX LIABILITY. PLS GUIDE
CA Ayush Agrawal
(Expert) 11 April 2013
if Make a Gift deed and Transfer Under Gift Arrangement then it will not be taxable in both the hand.
but whenever it will be sold to another party, then it will be taxable taking cost of acquision when the original buyer has bought.
R.V.RAO
(Expert) 15 March 2014
gifts between relatives are exempt from gift tax.
but regn.fees and stamp duty ( which differ from state to state) both are payable while registering both gift deeds.
gift deed regn cost is lesser than a settlement deed (regn.due to family arrangements) cost.
