Property gift to my niece's minor son - Tax liability to donor or donee?

Hello

I am a widow with no legal heir. I have gifted my house which is in my name (worth 1.5 cr) to my niece's minor son vide a gift deed.and made my niece and her husband as guardians. I have paid stamp fee and court fee. What would be tax liability to either of us? Since my niece's son is minor, I don't think there will be any tax liability for him. The said property was purchased in my name by my husband.

Thanks 

Replies (2)
Quick Summary
A widow gifted a house worth £1.5 crore to her niece's minor son, appointing the niece and her husband as guardians. The donor sought clarification on tax liability, questioning if the minor donee would be liable. It was confirmed that there is no tax liability for either the donor or the donee in this specific scenario.

there is no taxability in this case.

Thank you for replying 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register