Property Gift followed by sale

K Wlliams (Investment Professional)   (1 Points)

17 March 2021  

Hi,

I am an Indian living in Australia and looking to sell a property I have in India.  For an efficient tax planning, I have been sugggested that I can gift the property to a blood relative of mine and then he can sell it subsequently. My question is, can my relative sell the property immediately or with in a short span after it has been gifted to him? Is IT dept/Govt likely to check the transaction and ask questions on it?

Thanks

Kunal