I would like to purchase a flat in my daughter's name from my savings and gif to her. What kind of tax liabilities arise in this case ?
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Quick Summary
This discussion clarifies the tax implications when purchasing a flat in your daughter's name using your savings as a gift. Generally, gifting savings to your daughter for her to purchase a property does not attract tax liabilities. The key point is that the property is received by the daughter without consideration, meaning it's a gift, and such gifts of immovable property are typically not taxed.