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
Gopal Ved (--) (45 Points)
07 November 2013Hi 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
VIKASH KUMAR JAIN
(Audit Executive)
(711 Points)
Replied 08 November 2013
Mihir
(Wealth Manager)
(5293 Points)
Replied 08 November 2013
You will have to prepare a gift deed duly stamped and registered since it is an immovable property.
CA Pallav Singhania
(IT System Auditor)
(33262 Points)
Replied 08 November 2013
For complete details on tax on gift to relatives and non-relatives..
Anjani Kumar
(Manager)
(128 Points)
Replied 08 November 2013
Fathers brother spouse is covered under relative.So not covered under TAX
Gopal Ved
(--)
(45 Points)
Replied 08 November 2013
Many thanx to everybody for answering my query..appreciate quick replies..thanx members..