Legal Question in Real Estate Law in India

Can anyone please tell me how much money can a father gift his children when he divides his property?

What is the maximum limit?

Can the gift be as a property?

Should the father pay tax for the same..wealth tax , etc?

How many property's can be given as gift as there is more than one child?


Asked on 6/16/11, 7:26 am

3 Answers from Attorneys
Professor SOMNATH MUKHERJEE MUKHERJEE ASSOCIATES(Cell +91 9874753359/ 9477781578)

THERE IS NO LIMIT

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Answered on 6/16/11, 8:06 am
Sanjay Kalra Sanjay Kalra & Associates

The father can gift anything to his child(ren) . There is no limit to the gift. Gift could be anything ,moveable or immoveable. Someone has to pay the stamp duty on the gift deed ,either the Donor or the Donee.

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Answered on 6/16/11, 1:26 pm
Shrichand Nahar S.V.Nahar, Advocate

Father can gift to his sons/daughters any amount.

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Answered on 6/16/11, 10:16 pm


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