gift the hands of the giver

kinnary (student) (231 Points)

19 July 2010  

what is the tax treatment of gift in the hands of the person who gives such gift??

could you explain it under the below 2.immovable property..

iam aware of sec 56 but how does it go in the hands of a person who is giving it??

also are we supposed to get the gift registered(sorry if its the wrong word to use)??