449+ Lawyers are online 
Gift Deed from grandmother to grandson.
29-Sep-2023 (In Property Law)
My grandmother brought property (Flat) by sale of her old property. During registration she added my name also along with her as joint owner. No she wants to gift her share of flat also to me and make me the sole owner. I had not paid a single rupee when she bought the flat. How do we draft the gift deed, as after the registration of gift deed even the amount that is reflecting in her IT balance statement, would be transfer to me. correct me if i am wrong.
To answer your query. No, the IT balance amount will not be transferred to you. Because If the gift of shares is being made to a “relative” (that is you in this case) as defined by the Income Tax Act, it will not be subject to tax. Please contact for further assistance. Kind Regards, Adv. Satpreet Kaur
Helpful?
16+
16+
Adv. Satpreet Kaur Siledar
Delhi | 25+ Answers
Chat
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Property lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
