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Gift tax

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(Querist)
10 September 2017 Sir, for gifting of an immovable property without having any consideration to a non relative what would be the tax liability for donee and whether doner of d property needs to pay any tax? here both doner n donee are individual n both r not relative as they are friend.
Sir please clarify this as per applicable section.
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
10 September 2017 Gifts will not be taxed if the gift is received from a relative or received by way of inheritance or by way of will or received on marriage or received from any institutions mentioned under Sec 10(23C).
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
10 September 2017 In other cases, the donee needs to pay tax and donor will not be subject to any tax.
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Safique Sardar

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Safique Sardar (Querist)
06 April 2018 thanx alot for your reply, very much satisfied from you.
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