s.malhotra (manager) 24 April 2012

Flats

I have couple of flats booked with big builders, Finance was thru: Long Term capital Reinvestment,

Can I gift these to my Child, If so how much Gift Tax and Percentage of stamp duty has to be paid.

Deepak Nair (lawyer) 24 April 2012

There is no gift tax. You are required to pay stamp duty which will be calculated on the basis of the market value of your flat.

If you want to transfer it to your children, then you can execute a will to that effect, by which you can save teh stamp duty.

(Guest)

Dear Malhotra

You have invested money for getting gain . So execute a will and gift said flat to your child.

whats your child age ?