Sale of House property

Naveen (student) (334 Points)

12 March 2021  
Can a father sell his self earned property to his son for less than market value or inadequate consideration...?

For example Father bought property in 2010 at 1 lac. Now it is worth 10 lacs. Can father sell it to his son for the same 1 lac...?

What are the tax implications.. CG tax, IFOS..?

Thanks guys