SUPPOSE MR.X WHO HAS PURCHASED A RESIDENTIAL HOUSE PROPERTY IN DELHI HAS TRANSFERRED THE SAME TO HIS DAUGHTER WHEN SHE WAS A MINOR.SO WHEN SHE WAS A MINOR IT WAS TAXED IN THE HANDS OF MR.X ITSELF. BUT NOW SHE BECAME MAJOR, SO NOW IN WHOSE HANDS IT HAS TO BE TAXED???

SUPPOSE IN THE ABOVE QUERY IF THE SUBJECT MATTER WAS JEWELLERY INSTEAD OF HOUSE PROPERTY THEN WHOSE HANDS IT HAS TO BE TAXED????

KINDLY CLARIFY

Dear M.Lokesh,

After attaining Majority, the asset whether "House Property" or "Jwellery" will be taxed in the hands of Daughter only.