Rama chary Rachakonda
(Master in Accounts & high court Advocate)
(8358 Points)
Replied 24 September 2021
Since you have received the gift from a specified relative (i.e. your grandmother), the transfer of this property would not attract tax. It would be advisable for you to document the gift in a legal document viz. a gift deed and place it in your records.
kiran bari
(Student CA Final )
(46 Points)
Replied 24 September 2021
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