06 November 2011
Please let me know that, Can one gift an immoveable property / flat in the name of without blood relation, if so what are the implications / complications / formalities / precautions.
06 November 2011
In case of donor there will be no implication for taxes.. But in case of receiver he has to pay tax on the stamp duty value of the land & Building u/s 56(vii)(b)..
This tax can be saved if the receiver gets this on the day of marriage from donor as a gift...
CAclubindia
