TAX LIABILITY AGAINST GIFT DEED
This query is : Resolved
PRASANNA KUMAR
(Querist)
17 November 2024
Hi Sirs,
I will be selling my property which is in my name for around 50L and the entire amount will be gifting to
my married daughter for her to start a clinic or for her long term investment.
Kindly advise
(1) what would be my capital gain in this case(I bought the property in 2000 and spend a total
amount of 25L)
(2)My daughter's (who is a Doctor) tax liability even if I give through Gift deed.
Thanks for your kind advise.
I will be selling my property which is in my name for around 50L and the entire amount will be gifting to
my married daughter for her to start a clinic or for her long term investment.
Kindly advise
(1) what would be my capital gain in this case(I bought the property in 2000 and spend a total
amount of 25L)
(2)My daughter's (who is a Doctor) tax liability even if I give through Gift deed.
Thanks for your kind advise.
Dhirajlal Rambhia
(Expert)
17 November 2024
1. If the market value of the property as per circle rate as on 01.04.2011 be around 17 lakhs, no tax liability.
2. Gift from father is exempt under income tax.
2. Gift from father is exempt under income tax.
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