Any gift tax on property in Delhi?

unimog · Post by **unimog** » Wed Nov 23, 2011 4:37 am

My parents have a flat which they want to transfer in my name. They want to transfer it by "gifting" it to me as they heard its better than processing it the "inheritance" way. Is there a tax involved in gifting to their son as they heard there is a gift tax. Don't trust the corrupt officials in Delhi municipality. Right now its in my mom's, dad's and brother's name. The flat will be given to me fully with 100% consent from my brother. Does my brother have to be physically present during the signing process or can he appoint my parents the power of attorney on his behalf? More importantly do I have to be physically present when the title gets changed to my name during the transfer process? Can they mail me the documents here in US and I sign and mail it back to them? What fees are associated when transferring property in this case? Any help would be appreciated.

bmukherji · Post by **bmukherji** » Wed Nov 23, 2011 6:50 am

Look in the following link:

http://www.r2iclubforums.com/forums/showthread.php/9393-Gift-Tax

A little search on this forum would have gotten you some answers to your query.

techynt · Post by **techynt** » Sat Oct 21, 2017 6:14 pm

One of my relative wants to gift a plot in Delhi to his brother, anybody aware of the tax implications?

Both parties are in India.

techynt · Post by **techynt** » Sat Oct 21, 2017 6:23 pm

The below answer by Rajesh to someone else question kind of answers my question.

In short, gift is not taxable in India. But the property has to be registered which will cost stamp duty.

http://www.r2iclubforums.com/forums/showthread.php/19829-Rajesh-Answers-Tax-Questions-on-Indian-Real-Estate-Property-Laws-Gifts?p=592601#post592601

techynt;664649One of my relative wants to gift a plot in Delhi to his brother, anybody aware of the tax implications?

Both parties are in India.

greyfri · Post by **greyfri** » Sun Oct 22, 2017 2:19 am

techynt;664650The below answer by Rajesh to someone else question kind of answers my question.

In short, gift is not taxable in India. But the property has to be registered which will cost stamp duty.

http://www.r2iclubforums.com/forums/showthread.php/19829-Rajesh-Answers-Tax-Questions-on-Indian-Real-Estate-Property-Laws-Gifts?p=592601#post592601

in Delhi at least, stamp and registration duty on gift is the same as on sale. In some other states, gifts to family members have lower stamp and registration duties.