Legal Question in Wills and Trusts in India

hi im sam from india i just wanted to knw ive a home woth about 7cr in chennai and i want to give it to my nephew who is very dear to me. so wot is the best way to do it ? write a will and register it?? or write a gift deed on his name??? or re-register it on his name??? which is the most income tax saving way???i have no problem in giftin or registerin in his name rite now.but which is the best way to avoid income tax on my nephew???? pls answer in detail.

Asked on 1/11/10, 12:30 am

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you may gift the house to your nephew and in all probabilities, this would not be considered a capital gain.

Answered on 1/11/10, 12:34 am

Seshadri Srinivasan www.lawconcern.com

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Detailed answer available only as a paid opinion.

Answered on 1/11/10, 6:20 am

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