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Immovable property As Gift to Relative
Can any person transfer his own immovable property (agricultural land) to family member not for any consideration i.e. as a gift ?
Replies (5)
Yes, can transfer but if any income generated from such immovable property then clubbing provision will applicable on the income.
Clubbing provision will be applicable if land is gifted to wife/Daughter in law otherwise not.
Yes, Immovable Property can be transferred to Relative without consideration and no tax consequences will be there.
Further clubbing of income would be done only if the Receiver of such gifted property is WIFE/Son's Wife.
Further clubbing of income would be done only if the Receiver of such gifted property is WIFE/Son's Wife.
CASE: GIFT OF MY INHERITED LAND/PLOT(FROM MY LATE MOTHER) TO MY WIFE'S BROTHER'S DAUGHTER FOR HER MARRIAGE-IS IT EXEMPT FROM TAX? PLEASE CLARIFY.
EMAIL: venkat.dsai29 @ gmail.com
CASE: GIFT OF MY INHERITED LAND/PLOT(FROM MY LATE MOTHER) TO MY WIFE'S BROTHER-THERE IS NO OCCASSION OF MARRIAGE-IS IT EXEMPT FROM TAX? PLEASE CLARIFY.
EMAIL: venkat.dsai29 @ gmail.com
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