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Taxability of gift of immovable property by a sister to brot

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(Querist)
14 May 2014 Dear All,

Please advise whether gift of immovable property (stamp duty value Rs. 10 lacs)by a sister to his brother is chargeable to income tax in the hands of his brother.

Thanks in advance.
Rgds,
Ramesh
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Sandeep Dharar

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Sandeep Dharar (Expert)
14 May 2014 No Ramesh Gifts from Relatives r Fully exempted from Tax.
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Ramesh

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Ramesh (Expert)
14 May 2014 Thanks sir for prompt response. Rgds, ramesh
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