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Tax implication on transfer of property within blood relation

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(Querist)
08 June 2024 What is the tax implication on transfer of property within blood relation via gift deed or conveyance deed ?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
08 June 2024 Any property received by gift deed or transfer deed without cost or at lower cost, from 'Relatives' (as defined u/s. 56(2)(x) IT act) is not taxable.
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CA Puja Sharma

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CA Puja Sharma (Expert)
08 June 2024 There is no additional tax liability when a propery is transfered by a gift deed from relative
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