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Gift of immovable property by relatives
Immoveable property received by my elder brother as s gift but stamp duty and registration charges paid by me . Any adverse view possible by income tax department for exemption of Gift for tax purposes , please advise me .
Replies (5)
In my view that will not alter the situation .
Immovable property acquired by vitue of inheritance law is not subject to tax though it is a capital asset.
Capital gain arises on transfer of capital asset .
Capital gain arises on transfer of capital asset .
Immoveable property not acquired by inheritance , but acquired by gift from own brother ( relative) . Please correct advise on above position .
So your elder brother has received the property from blood relation.
What is the stamp duty value?
Date of acquisition of such property.
Please try to furnish accurate information.
What is the stamp duty value?
Date of acquisition of such property.
Please try to furnish accurate information.
My elder brother self acquired property gifted me without any consideration , but stamp duty and registration fee paid by me at the time of gift property registration . What is position gift property exempted from tax . Please clarify the correct advise and position .
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