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property transfer
a elder brother having property in his name. at the time of settlement it is given to the younger brother. they agrees that younger brother will transfer the asset on gift deed. but if the same would have been on the name of father taxability would not have risen. what should be the best way of transfer.
Replies (1)
Whether father or son, no gift tax liability on property transfer between relatives.
What differs is stamp duty, which is state subject, check with sub-registrar of your area.
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