21 February 2011
In a family there are three brothers i.e.Mr.X,Y,&Z. Mr.X,owns a house which is in the joint name i.e. in the name of Mr.X & Mrs.X. Mr.X wants to transfer the house to Mr.Y. Can he prepare a gift deed in this case or not.(house is in joint name) If not than.Why?
21 February 2011
Mr x and Mrs.x own a property in joint names now Mr. X want to gift his share in the property to MRs. X, it is required to prepare a gift deed.
any income from that property will be clubeed in the hands of Mr X
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