Gift tax

Gunjan (Querist) 16 December 2015 This query is : Resolved
What is the percentage of tax that will b levied if I was to gift a part of my property sales that I have inherited from my deceased husband to my sister's kids

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kavksatyanarayana (Expert) 19 December 2015
Author, Gift tax is exempted if the gift was given by a blood relative, irrespective of the gift value.

K.S.Srinivas (Expert) 19 December 2015
Agree with Sri Kavasayanarayana.

T. Kalaiselvan, Advocate (Expert) 26 December 2015
This is not a transfer within blood relatives hence it is likely to suffer gift tax. Consult a local tax consultant who will be able to guide you properly in this regard.

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