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Gift tax

This query is : Resolved 

17 December 2013 can a wife gift a property to husband?

18 December 2013 YES.

Under section 122 of the Transfer of Property Act, 1882, you can transfer immovable property through a gift deed. The deed should contain your details as well as those of the recipient. However, section 123 of the Act says gifting a property is valid only if the documents of transfer are registered with the local magistrate or the registrar. The registration is done in the presence of two witnesses.




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