GIFT OF PROPERTY
This query is : Resolved
PRAVIN JAIN
(Querist)
27 November 2016
Can BHABHI give property as gift to DEVAR?
Any tax liability on both of them?
CA. Vinodh Kothari
(Expert)
28 November 2016
Yes Bhabhi can give gift to Devar no tax liability on both of them.
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PRAVIN JAIN
(Querist)
28 November 2016
Thanks Kothariji.
PRAVIN JAIN
(Querist)
28 November 2016
If DEVAR gives gifted property on rent then who will be liable to pay income tax on rental income??
Dhirajlal Rambhia
(Expert)
04 November 2021
No clubbing provision in this case. The rent will be taxed in Devar's hand.
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