We have a residential apartment registered in our name (me and my wife ) and wish to gift the same to our married daughter.
We shall, therefore, request you to let us know the tax implication our doing so will have both at our end and at the end of our daughter.
We shall also request you to guide us about the documents which would be required to be executed to gift the apartment.
my father want to gift me a flat of group housing society in Delhi. so kindly advise the suitable legal procedue and charges that will authorities (i.e. DDA & Income Tax etc.) will charge for the same.
kindly somebody detail that how to gift money to spouse for tax exemption and its pros and cons.
donee have not transferred the property in their name hence acceptance is not complete. is the donor then the lawful owner of the property today?
Related to that, after receiving the property, who is the owner of this property, I get all rights like regular purchased property? in future can I sell gifted property?
Actually the property is a house. Myself & my wife are living in this house. It is under Housing loan. My elder son is the main applicant & we are co applicants. The property is in our names (Myself & my wife’s name). I have 2 sons.Younger son also major. kindly help me to find the procedure to gift this property to my elder son.
I would like to know more information on the gift tax.
If a property is on a mothers name & she wants to give it to his son.
Can it be given as a gift to the son.
In case of a private trust, if the beneficiary himself gives his own money to trust what will be the taxation in this case ? a) Income tax will be paid by the trust b) Will the person giving money is beneficiary himself?
Any citations/cases will be appreciated.
I will take capital gain bonds to get tax benefit from the sale of property.can I gift these bonds to my son or transfer it in his name?
I received a 2400sft plot as a gift from mom on Nov/2009, Now how should i consider the value into my books since its a gift? a)My mom had purchased it for 15,000/- in the year 1984 or b) The Sub register value on date of the gift was Rs 25 Lacs?
In tally the entries should be like : BY Land property Rs _____ TO Capital a/c______ am i right ?