Legal Question in Wills and Trusts in
Can a son gift his share of a Flat to his father ?
Is there any Gift Tax involved ? Any stamp duty to be paid ?
Asked on 10/04/10, 11:22 pm
3 Answers from Attorneys
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
yes, the gift is valid but stamp duty needs to be paid.
Answered on 10/04/10, 11:40 pm
Aniruddha Pawse
Aniruddha.P.Pawse Advocates
yes son can gift share of a flat to his father and he will be liable to pay stamp duty.
Answered on 10/04/10, 11:50 pm
Vishwa Arya
Arya & Co.
Can a son gift his share of a Flat to his father ?
Yes, provided son is a major.
Is there any Gift Tax involved ? Any stamp duty to be paid ?
No Gift Tax is involved as the act has been repealed. But stamp duty is payable on the valuation of the share in property and is same as is on a sale deed in your state
Answered on 10/05/10, 8:48 am
Related Questions & Answers
-
IFa registered will is challenged what r the chances to win? Asked 9/30/10, 10:51 pm in India Probate, Trusts, Wills & Estates
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
