Please let me know on the gift tax deatails on below :
We( Me & my husband ) have bought a plot , but have got it registered on my Mother In Law's name as we were not available for registration at the time.
We now want to get it transferred to my husband's name , which we belive can be best done by way of a gift deed.
Please advise us on the gift taxes if any ? or any other ownership issues, we might have to face later on ? Is this the best option to plan for our taxes?
CAclubindia
