Will Gift Tax rule apply if I want to gift my flat to mother and sister ?

POSTED BY captainfgd ON December 17, 2013 1:16 pm COMMENTS (7)

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.




7 replies on this article “Will Gift Tax rule apply if I want to gift my flat to mother and sister ?”

  1. ashalanshu says:

    Dear Captain, do it ASAP.



  2. captainfgd says:

    Thanks. Will make the gift through Cheque only. Am gifting to reduce my liability due to a divorce

  3. ashalanshu says:

    Dear Captain, why do you want to gift in cash? Please route your gift through banking transaction be it cheque or netbanking.



  4. captainfgd says:

    Dear Manish,
    Thanks for your reply.

  5. captainfgd says:

    Thanks for your reply.

    Can you also confirm if a gift of cash made to my mother,father or sister will lead to any additional Income Tax Liability on the donnee(mother,father or sister )


    1. No , you can gift them any amount and it will not be taxed in their hands

  6. ashalanshu says:

    Dear Captain, gifting your properties to your mother or sister ‘ll not involve any gift tax. Yes you w’d have to reregister these properties in the respective names and for that you w’d have to pay stamp duty as per rates there on for the same.

    You can gift any amount to your mother and sister, no tax liability on them to receive the money from you.

    Please prepare gift deeds for all the gifts.



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