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Gift and capital gain tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 January 2014 Dear Experts,
I gifted a residential flat through a registered gift deed having circle value 9.27 lac in 1013 to my younger sister .This flat was received by me in family partition in 2009. As I have transferred an immovable property through a gift deed do I have to pay capital gains tax?
Thanks in advance
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
05 January 2014 You are not required to pay capital gain tax. Your sister is also not required to pay income tax.
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