Gifting of the property received in gift

Others 421 views 3 replies

Dear Sir / Madam,

During FY 2017-18, Mr. A's mother gifted her house in Mumbai to Mr. A, her son. Now in FY 2018-19, Mr. A wants to gift the same house to his daughter Ms. C. He is ready to pay the stamp duty as per prevailing laws.

Is it possible to gift the property received in gift? If yes or no, what are the implications?'

Please guide.

Regards,

Suraj 

Replies (3)

Yes, it is possible to Gift again property which was originally received as Gift from mother.

There is no restriction / prohibition that would stop him for gifting the property.

Attention is to be given to the clubbing provisions of income tax if the property which is gifted is generating revenue.

Thank you Sir. In this case its residential flat which is not given on the rent.

Regards,

Suraj

Then in your case there is no tax implications as such.
Do make proper disclosure of same while preparing books of accounts


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details