Hi
I am owning two houses earned by my salary. I am having three children. Now I want to gift the two houses to my children and to my wife during my lifetime. How to do it? Will it attract tax on the benefitors? Without any tax burden on them how to do? IS it possible? If you answer my questions I will be much grateful to you
Jagatheesan
you can do it not attacking any tax liablity , normaly on RS 100 stamp paper
also check view of others
gift tax is now abolished...and gift to relatives is not liable to taxes as per the IT Act u/s 56(2)...so u can proceed with it wothout hesitation
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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