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Property ownership transfer to my wife's name is there any tax benefit
02-May-2025 (In Property Law)
Hi, I'm currently 67. I want to transfer the flat in my wife's name after owning it for 13 years, would there be any tax benefit for the same? Our house tax is Rs. 3328 per year now. Will it reduce tax payable every year? Also, what is the total cost of ownership transfer, all charges including? And what are the individual steps involved in property transfer and from where can I do it?
If you want to transfer the ownership in favor of your wife's name the best method to do that is execute a deed of gift in favor of your wife. and the cost of transfer can be calculated after I get all the documents of your property ( photo copy)
Than I will find the market value of your property and the possession of your property (weather it is under a municipal corporation or Gram panchyat). after all of this I can give to the actual cost of transfer of property in favor of your wife's name.
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Adv. Pijush Roy
Siliguri | 50+ Answers
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dear client as per your query since you want to transfer the flat in your wife's name you can gift the property to her as gift charges are less than the sale deed of ownership you need to do follow registration process..
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Adv. Priyanka Singh
Kolkata | 1000+ Answers
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hello, whatever the property or house tax , in this case it doesn't affect any tax benefit, tax calculation is based on the assessment register of the municipality, yes u can transfer the deed in favour of your wife. kindly contact me i will explain the exact amount will be paid for the registration purpose. thank you
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Adv. Pallavi Saha
Barrackpore | 50+ Answers
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