gift
This query is : Resolved
C.A.Radhika Shah
(Querist)
09 September 2009
a gift of a house property to his son without any consideration is it taxable under the head income from house property after the transfer to his son? will the father be deemed owner even if the son is major? is the gift taxable under any other head?
Late CA Sampat Jain
(Expert)
09 September 2009
1) son being major and owner of house property after valid gift ,the income derived therefrom is his income
2) gift to son not taxable
2) gift to son not taxable
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