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Immovable property As Gift to Relative

Sourabh Ambure (student and entrepreneur) (137 Points)

14 November 2018

Can any person transfer his own immovable property (agricultural land) to family member not for any consideration i.e. as a gift ?

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5 Replies

CA Sunil Kumar (Chartered Accountant) (4524 Points)
Replied 14 November 2018

Yes, can transfer but if any income generated from such immovable property then clubbing provision will applicable on the income.

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Avtar Singh (363 Points)
Replied 14 November 2018

Clubbing provision will be applicable if land is gifted to wife/Daughter in law otherwise not.

Nitesh bind (Student CA Final ) (12692 Points)
Replied 14 November 2018

Yes, Immovable Property can be transferred to Relative without consideration and no tax consequences will be there.

Further clubbing of income would be done only if the Receiver of such gifted property is WIFE/Son's Wife.

4 Like

venkat (FREELANCER) (62 Points)
Replied 21 May 2022

CASE: GIFT OF MY INHERITED LAND/PLOT(FROM MY LATE MOTHER) TO MY WIFE'S BROTHER'S DAUGHTER FOR HER MARRIAGE-IS IT EXEMPT FROM TAX? PLEASE CLARIFY.

EMAIL: venkat.dsai29 @ gmail.com

venkat (FREELANCER) (62 Points)
Replied 21 May 2022

CASE: GIFT OF MY INHERITED LAND/PLOT(FROM MY LATE MOTHER) TO MY WIFE'S BROTHER-THERE IS NO OCCASSION OF MARRIAGE-IS IT EXEMPT FROM TAX? PLEASE CLARIFY.

EMAIL: venkat.dsai29 @ gmail.com