Priya mam go with the suggestion of NINA mam
Yes your father can gift his property to u.
U/s 56(2)(vii) Income Tax Act 1961 it is not taxable, its fully exempted.
sandeep gangwar (AUDITOR) 05 January 2012
Priya mam go with the suggestion of NINA mam
Yes your father can gift his property to u.
U/s 56(2)(vii) Income Tax Act 1961 it is not taxable, its fully exempted.
R (none) 05 January 2012
Our lawyer has advised us against registering it in my moms name. He said that now the case is doing on and the property is disputed and hence, you cannot transfer or sell it. FYI we still have not got a stay on it, hence we were in a rush to register it in my moms name. Is the lawyer correct?
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