Gift-Tax Consequences
This query is : Resolved
CA Abhishek Singh
(Querist)
06 January 2011
one of our client want to gift his one of the flat to his son.
kindly let me know the tax consequences. How can one avoid tax through gifting ?
kindly let me know the tax consequences. How can one avoid tax through gifting ?
CA Sanat Pyne
(Expert)
06 January 2011
NO INCOME TAX LIABILITY ARISES ON TRANSFER OF PROPERTY TO SON.BECAUSE GIFT TO RELATIVE IS NOT TAXABLE.
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