Sir, If a husband gifts a house to his wife, is it gift tax free.? If not upto how much limit it is free. and if a son gifts his house to mother, whether it is gift tax free.?
kishorchandra p mehta (Ex Chief Executive Officer) 05 February 2022
Sir, If a husband gifts a house to his wife, is it gift tax free.? If not upto how much limit it is free. and if a son gifts his house to mother, whether it is gift tax free.?
Archana Pandey 07 February 2022
Dear Mr. Mehta,
According to the section of 56 (2) (x) Income Tax Act, 1961, which explains that Gifts between close relatives like Son to Mother or Husband to Wife of a immovable property will be tax free in India.
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