for saving tax can i gift property without registering deed of gift

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.. ?

Answers (1)

221 votes

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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