Property Gift followed by sale

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

 

 

 

Replies (1)
Yes being on living in foreign you have to follow RBI Guidelines for transferring property in India subject to that the property you are transferring should be bought by you while living in India. Transferring property to your relative will not effect as it will be gifted but subject to conditions mentioned above. But when your relative sells the property IT Department may check the transactions and Capital Gains arises to your relative

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
19 September 2026
CA/Semi-CA/BCom

Pravin Sarvaiya

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
08 September 2026
Audit Executive

Thammana & Associates

Srikakulam

B.Com

View Details
Company
17 September 2026
Chartered Accountant

Dass Gupta & Associates

Gurgaon

CA

View Details
Company
15 September 2026
Client-site CA associate

Aditya Muley and Co

Mumbai

CA

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
Featured 12 September 2026
Assistant Manager - Finance & Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details