Transfer of property to my wife
ANKUSH SOOD
(Querist) 26 March 2019
This query is : Open
I am the owner of ancestral property having house and shop and paying tax on rental income from shop. Can I transfer my property ( both houses and shop) to my wife and two minor children. Also who is liable to pay tax on rental income from shop after that
Dr J C Vashista
(Expert) 27 March 2019
What would the mode of transfer of property (sale, deed, gift deed etc.) have been conceptualized/ advised ?
What is the reason of transfer of the property ?
Dr J C Vashista
(Expert) 27 March 2019
Presumably you profess Hinduism, isn't it?
Who else legal representatives, copacerner(s), stakeholder(s), co-sharer, are there in the ancestral property proposed to be transferred?
Dr J C Vashista
(Expert) 27 March 2019
It would be better to consult and engage a local prudent lawyer for better appreciation of facts/ documents, guidance and proceeding.
However, if you are located in Delhi/NCR and feel so, may contact me (on appointment) at:
Ch. No. 647, Dwarka Courts Complex, New Delhi-110075 Cell # 9891152939
Guest
(Expert) 27 March 2019
Owner of property by what means, whether you have got the ancestral property duly transferred in your name by adopting due legal process and mutated that in your name or not?
SHIRISH PAWAR, 7738990900
(Expert) 27 March 2019
You can transfer your property in your wife's and children's name and after transfer they will be liable to pay the tax if any on rent.
