Share in property

This query is : Resolved

Shailendra Kumar (Querist)
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12 July 2025 Sir,
Someone please suggest
My wife had a share in her mother's property
Which was got registered by her brothers in their name. Now they agree to give her share.
Should we make gift deed or sharing agreement papers to save income tax.
Thanks

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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12 July 2025 Release Deed can be made, but LTCG based on the difference of purchased cost and today's circle rate will be applicable.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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12 July 2025 but why would LTCG apply if they can just gift it?

Shailendra Kumar

Shailendra Kumar (Querist)
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12 July 2025 Thanks sir
If they agree on gift deed, then we don't have to pay on LTCG. So, gift deed is better option for taking money against share in property?

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