Air

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Ankit Jain (Querist)
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04 March 2014 My client has made a gift of property whose collector rate is 64 lakhs to his son.

Will this transaction be reported in AIR by the registrar?

My view is that it will not be reported as it is not sale and purchase of property.

Kindly clarify.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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04 March 2014 If the transfer has been registered with the registrar, then the same will be reported in the AIR.

Prepare a gift deed on a stamp paper and get it notarised.