Gift tax
This query is : Resolved
17 May 2012
Hello Sir,
Please let me know on the gift tax deatails on below :
We( Me & my husband ) have bought a plot , but have got it registered on my Mother In Law's name as we were not available for registration at the time.
We now want to get it transferred to my husband's name , which we belive can be best done by way of a gift deed.
Please advise us on the gift taxes if any ? or any other ownership issues, we might have to face later on ? Is this the best option to plan for our taxes?
Please let me know on the gift tax deatails on below :
We( Me & my husband ) have bought a plot , but have got it registered on my Mother In Law's name as we were not available for registration at the time.
We now want to get it transferred to my husband's name , which we belive can be best done by way of a gift deed.
Please advise us on the gift taxes if any ? or any other ownership issues, we might have to face later on ? Is this the best option to plan for our taxes?
Aditya Maheshwari
(Expert)
17 May 2012
yes gift via gift deed to you husband would be the best option and will not attract any kind of income tax but may attract gift tax.
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