If a commercial property (currently in name of individual) , 50% ownership of the same is transferred to his wife as gift without any consideration, will it be taxable in hands of wife or husband? Required stamp duty on registration of the gift deed will be duly paid
31 August 2023
It will not be taxable in both the hands as gift from relative exempt from tax. Only the income from the gifted property will be clubbed in the hands of husband.
If a proper sale agreement is prepared at adequate stampduty valuation for 50% transfer of share in the property , then too clubbing will be applicable? And will be taxable in hands of husband as capital gains?
CAclubindia
