Tax Liability on Gifts of Immovable Property from Non-Relatives in India

Ishan Kakkar (Others) (59 Points)

29 December 2024  

Dear Experts,

I have a few queries related to the taxation of an immovable property received as a gift:

  1. What are the tax implications for a person who receives an immovable property as a gift from a non-relative (through a registered gift deed) in India? Specifically, does the recipient need to pay tax immediately when the gift deed is executed, or does the tax liability arise only when the property is sold in the future?

  2. If the recipient cannot afford to pay the tax liability at the time of receiving the gift, what options are available to address this situation?

Your guidance will be greatly appreciated.

Thanks & Regards,