banner_ad

Gift tax on immovable property

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
21 May 2015 My aunty (Father's Brother's wife) wants to gift two plots ( Non agricultural plots meant for house construction) to myself and my brother. The price of each plot is respectively Rs 25 lac and Rs 12 lac.
Will there be any income tax implication for my Aunty, myself and my brother?

In case of any tax implication, can she gift the same to our children?
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
22 May 2015 No tax implication for your aunty as well as for all of you.
Profile Image

CA HITEN VELJIBHAI NAGDA

Profile Image

CA HITEN VELJIBHAI NAGDA (Expert)
22 May 2015 Tax implication will be there when you and your brother will going to sale.

you have to take into consideration cost of acquision for your aunty and indexation will take into consideration accordingly.
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
23 May 2015 Thanks Mr Seetharaman and Mr Nagda for providng the useful inputs.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
02 May 2026
Experience Audit Manager

AGGARWAL SAMIR & CO

New Delhi

CA Inter

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
29 April 2026
Internal Auditor

SNCO

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 30 April 2026
Article Assistant

M/s G.K. Choksi & Co.

New Delhi

CA Inter

View Details