Gift of immovable property

jf a person receives a gift, if the value of the gift is exceeding the certain limit then he/she must add it in his income and pay the income tax. If you receive the gift worth more than Rs.50000, you are liable to pay the tax whatever you received excess of the limit

One very happy feature of the provision of taxation of gifts is that any gift received from any person on the occasion of the marriage of the gift’s recipient would not be liable to income tax - 

The following list of gifts are fully exempted from Tax whether the it is received as Cash, or any other form of the material doesn’t affect the exemption.

Gift received under a Will or by way of inheritance

Gift in contemplation of death of the donor; Gift from any local authority

Gift from any fund or foundation or university or other educational institution or hospital or any trust or any institution referred to in Section 10(23C)

Gift from any trust or institution, which is registered as a public charitable trust or institution under Section 12AA 

if a person gives a gift to anoher then such gift would not be regarded as transfer so  no capital gain 

aries in the hand of transferor 

LIMIT OF RS.50000/- IS ONLY IN CASE OF CASH GIFT. BUT IN THIS CASE IMMOVABLE PROPERTY IS RECEIVED AS A GIFT. AND WHAT IS THE TAX PLANNING IN THIS CASE??