My father co-owns a property with her brother in Mumbai which was inherited by them on my grandfather's death. Now my uncle i.e my father's brother wants to relinquish his share in favour of my father without any consideration by way of a release deed.
I just want to know whether capital gains tax as per income tax would be applicable on relinquishment in this case as it is without any consideration and that too to a relative.
Thanks in advance
