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

Tax queries 266 views 2 replies

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)

there is no taxability in this case.

Thank you for replying 


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