Sir, I am a single male aged about 70 years. I am having a deemed daughter( Not legally adopted due to some legal constraints ) who is about 30 years old. Unfortunately she had divorced. Now she is remarried on 26th August 2020. She is in Jaipur and I am living about 200 Kms. away at Beawar. I wished to gift her my flat at Jaipur but due to COVID-19 crisis, I could not dare to go to Jaipur for the purpose. Now I wish to make the Gift deed in her name. Please suggest me that whether it shall be accepted by Income Tax Authorities after such delay. What is time frame normally in such cases. Should I go ahead and make the Gift deed now. Though I have made a will in her name for my all movable and immovable assets. But I apprehend any kind of legal challenge to my will by my brother or sisters, however, there is little chance but I wish to avoid any such circumstances. I know it will prove me little costly due to stamp duty etc.
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Time frame for gift at the time of Marriage
Replies (5)
Quick Summary
She is not your legally adopted daughter. Any gift made by you to her will be taxable in her hands
As far as relative is considered she will not be your daughter.. And regarding the fact that is this treated as marriage gift, so the provision says on occasion of marriage and in my opinion it will not be considered as marriage gift..
Dear Mr, Amit Khare, this is a gift on the occasion of Marriage, therefore, such gifts are not taxable, whether it is given by relatives or non-relative persons. My concern is what is the time frame to give such gift under the Income tax law.
There are precedence as regards to your case. the gift may be made within reasonable time within 1 week to 1 month from the date of marriage
Sir, now it is passed more than one and half months, do you advise me to go ahead to make the Gift Deed.
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