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for saving tax can i gift property without registering deed of gift
10-Jul-2023 (In Tax Law)
I got factory from my grand father by will and lst year he expire. I got rental income from factory. Before me my grand father gettong rental income. And for saving tax he has shown portion gifted to son and a portion sale to daughter in law and divided their rental income in 3 parts to save tax. Its all on notary papers no stampduty or registration done. Now as he died nd make a will in favour of me. M getting rental income . Can I do the same as my grandfather doing to save tax. I mean show some rental income on my mother and father name. But can a notary done this? I can gift my parents a portion of factory on notry stamp paper without registring and showing some rental income on their account for jus savings tax.. ?
seems that you are beleiving that the said property is burden of tax okay no worry, consult a good lawyer in this regard as i can see by the facts that the property is getting under your assessment as a gift you can also make a gift to your parents and the property can be gifted by notary only you dont have to worry about anything.
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Adv. Roshan Kumar Singh
Delhi | 100+ Answers
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Is daughter-in-law eligible for gift deed?
Anyone can give anything, including money, to anyone. Gifting movable property requires a gift deed that must be registered. 15 Oct 2020
Can property be transferred to daughter-in-law?
The daughter-in-law has no claim to the property acquired by her in-laws, whether it is ancestral or self-acquired. Upon the death of her spouse, i.e. As a widow she is entitled to the property that her husband left behind.
Can I give a gift to my daughter-in-law?
What is the maximum amount of money I can give my son and daughter in law without causing a tax problem with the IRS. You can give each of your children $17,000 in 2023 without worrying about the IRS. Even if you donate more, you will not have to pay taxes now. 27 Oct 2023
Can father-in-law give money to daughter-in-law?
According to section 56, the amount of the gift received from relatives (husband or father-in-law or mother-in law) will not be taxed.
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