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Gift of property (flat)

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Querist : Anonymous

Querist : Anonymous (Querist)

22 February 2011 If I want to gift my proportion of ownership out of co-ownership of house property to my relative So Tel Me What is the Process & all amt of compulsory or optional exps & also possible way of saving tax & amt of exps. (State: Maharashtra)

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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22 February 2011 In case you want to gift the co-owned property, it is advisable to take the consent of other co-owners also.
You have to transfer your share to the donee by executing documents in respect to the share in property being gifted. Stamp paper will be applicable according to the market value of share in property.
In this case no capital gains will arise as gift is not treated as transfer.

Querist : Anonymous

Querist : Anonymous (Querist)

22 February 2011 Thaxs for your suggestion these will really help me

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