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Immovable property gift to daughter
I would like to purchase a flat in my daughter's name from my savings and gif to her. What kind of tax liabilities arise in this case ?
Replies (3)
When immovable property received by an individual or HUF without consideration (i.e. by way of gift) is not charged to tax.
If I understand correctly, you are gifting your savings to your doughter and she is buying the flat.
gifting your savings to doughter won't attract tax
gifting your savings to doughter won't attract tax
No tax will be attracted in this case
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