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Immovable property As Gift to Relative

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student and entrepreneur
137 Points Joined October 2015
Can any person transfer his own immovable property (agricultural land) to family member not for any consideration i.e. as a gift ?
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On 14 November 2018 at 14:27 Report
Replies (5)
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Chartered Accountant
4524 Points Joined July 2014
Yes, can transfer but if any income generated from such immovable property then clubbing provision will applicable on the income.
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On 14 November 2018 at 14:47
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363 Points Joined June 2018
Clubbing provision will be applicable if land is gifted to wife/Daughter in law otherwise not.
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On 14 November 2018 at 14:53
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Student CA Final
12692 Points Joined October 2012
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.
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On 14 November 2018 at 15:17
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FREELANCER
62 Points Joined November 2011

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

 

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On 21 May 2022 at 19:45
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FREELANCER
62 Points Joined November 2011

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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On 21 May 2022 at 19:56

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