POSTED BY December 17, 2013 1:16 pm COMMENTS (7)ON
I have a querry regarding gift tax.
I would like to gift my flat to my mother, and another flat to my sister. Will it involve them paying any gift tax.
Also if I need to gift a sum of Rs 500000 to my mother and rs 1500000 to my sister will it involve any gift tax. Also will they need to pay any additional Income tax.