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
CAclubindia
