Gift

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 September 2012 My mother purchased the flat and gifted to me.I want to sale that flat.That income is taxable for me or my mother?

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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08 September 2012 1. Whose name is registered for the house?

2. Did your Mother gifted it through a gift deed?

The income will be taxable in her hand if the house is in her name and there wasn't any gift deed executed by her.

Querist : Anonymous

Querist : Anonymous (Querist)

10 September 2012 The house is registered in my name.There was no gift deed executed.To whom the income will be taxable?

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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10 September 2012 Since the property is registered in your name, the income will be taxable in your hands only

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