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
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
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