Property inherited between siblings
This query is : Resolved
05 May 2014
Hello, My mother & her sister inherited their fathers property...My mother intends to buy her sisters rights at market value...
Does she have to show this as a sale/make a release deed for consideration/can she show it as a gift, & eventually gift her the market value
Does she have to show this as a sale/make a release deed for consideration/can she show it as a gift, & eventually gift her the market value
06 May 2014
yes she can gift to ur mother by simply making a gift deed in this regard.
06 May 2014
thank you tushar for your reply...
just to be clear...she can gift my mother the property & my mother can gift her the market value in return?
Also can you pls confirm if this monitorial consideration is liable to capital gain?
just to be clear...she can gift my mother the property & my mother can gift her the market value in return?
Also can you pls confirm if this monitorial consideration is liable to capital gain?
06 May 2014
My friend's friend, lawyer, advised me to go for a family settlement deed, which involves no stamp duty.
She will be entitled to pay capital gain, unless she reinvests in property.
Sounds perfect, could you give me your opinion?
She will be entitled to pay capital gain, unless she reinvests in property.
Sounds perfect, could you give me your opinion?
06 May 2014
yes that lawyers suggestion is better to avoid any stamp duty.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 270A penalty
- GSTR 1- Amend Credit Note
- Supply to unit situated in SEZ
- TDS AFTER SUBMISSION OF 15G OR H
- International transfer pricing- -> father entity vs son entity ->WHERE NO mutual say in management
- Tax liability on gift amount given to blood relation
- Temporary GST registration
- Reimbursement of expense- GST applicable or not
- Acting as an Agent
- To Whom the Professional Invoice should be Raise
- GSTR 9C- Table 9
- GST Registration Application -Rejected
- Problem in filing Returns for International workers in EPFO
- Clarification for reversal of IGST on transfer of duty-free imported goods from EOU to DTA unit
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
- CA Articleship Extension Matter
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
Trending Online Classes
-
Live Course on GSTR 9 & 9C for FY 24-25(Detailed discussions, FAQ, Case studies and Live demo of GSTR 9/9C on GST Portal)
Industry Expert16 November 2025
CAclubindia
