Whether an ancestor immovable property (i.e. Shop) now in the name of mother after death of father can be gifted to his yongest married son. If Yes then what 's its implication from taxation point of view.
CA Sanjay Baheti (PROPRIETOR) (1155 Points)
30 March 2010Whether an ancestor immovable property (i.e. Shop) now in the name of mother after death of father can be gifted to his yongest married son. If Yes then what 's its implication from taxation point of view.
manikandan.J
(Accounts Manager)
(363 Points)
Replied 30 March 2010
hi
you want the filed Affidavit and as well as the put the gift deed this is protect yourself safe for yourself
CA Shiv
(Business Controller)
(2987 Points)
Replied 30 March 2010
No tax liability.... Can be termed as inherited property also....
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