banner_ad

Gifting of Immovable Propert

Others 322 views 6 replies
User Avatar

AUDIT MANAGER
109 Points Posted on 25 January 2021
I am highly salaried employee. I want to transfer my rented property to my wife without any consideration by way of Gift deed and proper registry. Rental income is 400000 yearly.
Can I save tax on my rental income by way of such transfer ?
or there is any other alternate available ?

Please suggest.
1 Reply Share Follow
On 25 January 2021 at 13:56 Report
Replies (6)
User Avatar

6 Points Posted on 25 January 2021
Yes, u can gift her immovable property bt make sure she has not more than two house property in her name otherwise she has to show notional rent on 3rd house property
Reply
On 25 January 2021 at 15:14
User Avatar

AUDIT MANAGER
109 Points Posted on 25 January 2021
It means clubbing provisions will not applicable in this case ?
1 Reply
On 25 January 2021 at 15:22
User Avatar

Chartered Accountant
24588 Points Posted on 25 January 2021
Clubbing provisions will apply in this case
1 Reply
On 25 January 2021 at 15:28
User Avatar

6 Points Posted on 25 January 2021
If the transfer is made to other relation such as parents, major son, major daughter or grandchildren etc. then it will not cover under the clubbing provision even if the transfer of asset is without consideration, u can't do that ??
Reply
On 25 January 2021 at 15:37
User Avatar

Chartered Accountant
24588 Points Posted on 25 January 2021
Yes then also clubbing provisions will apply
Reply
On 25 January 2021 at 22:40
User Avatar

6 Points Posted on 26 January 2021
By virtue of which section? kindly tell
Reply
On 26 January 2021 at 12:24


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topic

More recent discussions | Post

Related Topics
Loading

Latest Job Openings

View all
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details