Tax implication on transfer of property within blood relation
This query is : Resolved
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SANGEETA JADHAV
(Querist)
08 June 2024
What is the tax implication on transfer of property within blood relation via gift deed or conveyance deed ?
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.
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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