Hi Experts
If a parent transfer their property (house in chennai) to their daughter who is married some years before (and not a dependent to them), what tax obligations are there?
If the property had to be registered will there be a difference in registration amount or it will be same as in the case of a normal sale?
Is there any tax to be paid by the parent (will the parent be considered as the deemed owner of the property)?
Will the property's value(market/fair/any) be added to the income of the receiver and tax will be applied?
Thanks
CAclubindia
