Transfer of flat to the son of my wifes brother
This query is : Resolved
27 November 2013
I want to transfer a residential house in the name of the son of my wife's brother.what is tax implications.
CA PARAS BAFNA
(Expert)
27 November 2013
Your wife is sister of his father and you are the spouse to your wife. So you are a relative of your wife's nephew
.
(Explanation para - (iii) read with para (vii))
.
No tax implication will be there as far as Section 56 is concerned.
.
(Explanation para - (iii) read with para (vii))
.
No tax implication will be there as far as Section 56 is concerned.
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