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CAN A DAUGHTER GIFT HER FLAT TO HER FATHER WITHOUT ANY TAX IMPLICATION
10-Oct-2023 (In Property Law)
I am a retired person without own house. I stay in my daughters flat at present. My daughter stays in America and settled there permanently. She wants to gift her flat to me / transfer it on my name. Can she do it without any tax burden on me or any financial implications on me. Please give me right legal advise so that there is no financial burden on me or my daughter.
When you do any kind of transfer of ownership government levy stamp duty on it... especially when transfer is through gift deed stamp duty is required to be paid.... which is 5% of the total valuation of property.
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Adv. Dnyaneshwar Ashok Jadhav
Aurangabad, Maharashtra | 25+ Answers
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Sir, your daughter can easily gift the property to you by way of Gift Deed which needs to be registered, there will be a stamp duty applicable on the transaction which has to be paid. we can consider the stamp duty upon ascertaining the title documents available with you. You may connect us accordingly.
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Adv. Sarthak Shah
Mumbai | 100+ Answers
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