Tax on gift of house to daughters

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 October 2014 I have a house left by my husband. I have 2 daughters & no son. I want to gift my house to my daughters in two halves in my life time. They will inherit the house after me.
Will it attract tax or need any stamp duty? If they sell it in my life time, who will have to pay LTCG Tax?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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02 October 2014 stamp duty will be applicable. the rate of duty may vary from state to state.

whenever the property is sold, the tax shall be borne by your daughters.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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06 October 2014 on gifting there is no tax except for stamp duty prevailing in ur state is to be paid.

when ur daughters sell it in future capital gains are applicable.