banner_ad

Gift

This query is : Resolved 
Profile Image

Profile Image

(Querist)
03 January 2013 1}SON HAS GIVEN PLOT OF LAND TO FATHER AS A GIFT
2} FATHER HAS GIVEN PLOT OF LAND TO SON AS A GIFT
3} MOTHER IN LAW TO DAUGHTER IN LAW AS A GIFT

PLEASE EXPLAIN TAXABLITY?
Profile Image

Anand

Profile Image

Anand (Expert)
03 January 2013 Cases 1 & 2 are not taxable as gifts since it is from an individual to a relative.
Case 3 is taxable in the hands of the daughter in law since the daughter in law is not a relative of the mother in law as defined for the provisions of Section 56, which deals with gift.
Where such gift is made without consideration, tax will be payable on the stamp duty value of the immoveable property.
THis is assuming the stamp duty value of property exceeds Rs. 50,000/-
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details