GIFT TO SON
This query is : Resolved
sampad mohanty
(Querist)
25 April 2009
SIR/MADAM
I WANT TO GIVE SOME MONEY AND ASSETS TO MY SON (18+) TO SET UP A NEW BUSINESS. WHAT PROCEDURE SHOULD I TAKE SO THAT HIS TOTAL INCOME WILL NOT BE CLUBBED IN MY HEND.
THANKING YOU
SAMPAD
I WANT TO GIVE SOME MONEY AND ASSETS TO MY SON (18+) TO SET UP A NEW BUSINESS. WHAT PROCEDURE SHOULD I TAKE SO THAT HIS TOTAL INCOME WILL NOT BE CLUBBED IN MY HEND.
THANKING YOU
SAMPAD
CA. B.SRINIVASULU
(Expert)
25 April 2009
Prepare a Gift deed.
Pay the stamp duty of your state. Approximately it will be Rs.1000.
Register the gift deed. The expenses will be approximately 750.
Then the assets transferred will become the property of your son and it will not be clubbed again in your hands.
Pay the stamp duty of your state. Approximately it will be Rs.1000.
Register the gift deed. The expenses will be approximately 750.
Then the assets transferred will become the property of your son and it will not be clubbed again in your hands.
Manmohan ACA, CS
(Expert)
26 April 2009
correct
Deepak Goel
(Expert)
26 April 2009
Yes, I am agree with Mr. Srinivasulu
26 April 2009
agree with expert
taxindiaconnect
(Expert)
26 April 2009
Hats off BS. I agree.
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