Hi Everybody..
I need to know if gift of immovable property from father's brother's wife i.e Aunt, Chachi,etc. would be taxable or not?
And please if any reference to case law is also provided..thanx in advance
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Help plz..gift of immovable property
Replies (5)
Fathers brother spouse is covered under relative.So no income tax.
You will have to prepare a gift deed duly stamped and registered since it is an immovable property.
For complete details on tax on gift to relatives and non-relatives..
Fathers brother spouse is covered under relative.So not covered under TAX
Many thanx to everybody for answering my query..appreciate quick replies..thanx members..
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