assessee is tenant for last almost 40 yrs. now the owner intends to sell the property to the tenant. what is the best option to tenant: 1. buy out at market / guideline value ? -this is quite high; 2. receive it as gift from the owner ? owner is ready subject to that the gift tax is borne by the tenant. will this gift be justified ?(amount is to the tune of 200 lacs value)
Menu
Buying of property by tenant
Replies (2)
Receive the property under a Will and once owner expires , you transfer in your name as under a will. I am not sure of this answer. Please wait for other members to reply
Dear Doshi ji,
Thanks for the reply. But, even if the WILL is registered, the WILL maker can change it any time during his life time which would always be a risk. so we need to find out another solution. it is not that we do not to pay any taxes, but would like to pay minimal.
Recent Topic
- Input tax credit under igst under insurance compan
- ITR Form to be used
- CGAS account Holder Deceased
- ITR form suggestion
- Post office KVP income.
- Free GST invoice tool I built for my practice R
- Clarification on Gratuity Exemption under Section
- GOODS AND SERVICE TAX - GSTR 1
- Correct ITR form
- Clarification required on Section 393 & Report
Related Topics
CAclubindia
