Gift deed_registration date
This query is : Resolved
Quick Summary
31 March 2025
Dear Experts,
Gift deed of immovable property was made in FY 2023-24 (Jan 2024) from father to son. However the same was registered in FY 2024-25 (April 2024). Property was commercial property and yielding rental income.
So rental income from Jan 2024 (i.e period from which gift deed was made) will be taxable in hands of father (gift giver) or son (gift receiver)? Period in doubt : Jan 2024 to March 2024
Pls advice
Regards,
Gift deed of immovable property was made in FY 2023-24 (Jan 2024) from father to son. However the same was registered in FY 2024-25 (April 2024). Property was commercial property and yielding rental income.
So rental income from Jan 2024 (i.e period from which gift deed was made) will be taxable in hands of father (gift giver) or son (gift receiver)? Period in doubt : Jan 2024 to March 2024
Pls advice
Regards,
Dhirajlal Rambhia
(Expert)
31 March 2025
If you received possession of the property on the date of signing deed, take that date as transfer date.
Dhirajlal Rambhia
(Expert)
29 September 2025
Good luck..
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