Gift deed_registration date
This query is : Resolved
31 March 2025
Dear Experts,
Gift deed of immovable property was made in FY 2023-24 (Jan 2024) from father to son. However the same was registered in FY 2024-25 (April 2024). Property was commercial property and yielding rental income.
So rental income from Jan 2024 (i.e period from which gift deed was made) will be taxable in hands of father (gift giver) or son (gift receiver)? Period in doubt : Jan 2024 to March 2024
Pls advice
Regards,
Gift deed of immovable property was made in FY 2023-24 (Jan 2024) from father to son. However the same was registered in FY 2024-25 (April 2024). Property was commercial property and yielding rental income.
So rental income from Jan 2024 (i.e period from which gift deed was made) will be taxable in hands of father (gift giver) or son (gift receiver)? Period in doubt : Jan 2024 to March 2024
Pls advice
Regards,
31 March 2025
If you received possession of the property on the date of signing deed, take that date as transfer date.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on inherited shares
- 144c Draft order
- Took advance of Rs 500000/ for supply of iron goods
- TDS deducted in March on advance payment
- Filing d ITR by registered legal heir
- Non Deduction of TDS- 194IB
- Input Tax Credit in respect of a services availed from the hotel situated in U.T.
- Escrips ROdtep time limit
- HUF Dissolution
- HUF - Contract income taxability
- Refund of excess TDS on rent payments
- Cement Brick HSN code and GST Rates
- Correction pending for AO APPROVAL
- Fail to issue gst invoice from last 46 months
- GST ON OVERTIME CHARGES
- Closure of a PVT LTD company
- RCM Applicability on Services
- Change in Shareholders Name
- APPLICATION FOR AVAILING BENEFITS UNDER GST AMNESTY SCHEME & REQUEST FOR ADJUSTMENT/REFUND OF EXCESS
- GST Refund of Deemed Export
Trending Online Classes
CAclubindia
