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
CAclubindia
