sir
we are four brothers.we have a house in the name of our late father.now we have decided to handover our property to a promoter and we will take four flats in return.to simplify legal procedure,we have decided that my three brothers will gift the house in my name. now I will negotiate with promoter.after finishing the project, promoter will hand over four flats in my name. I ,then, will gift three flats to my brothers.
now, o like to know is there any complication for me from income tax angle?
PLS. ADVICE ME SOON.
best rgds.
Debasis roy
Asked on 12/30/13, 7:33 am
1 Answer from Attorneys
anuradha Dixit +9312411481
dixitlawfirm
will the gift deed be registered?? you will end up spending on the stamp duty. It would be better if your brother gave you special power of attorney to deal with their property viv a vis the promoter.
Answered on 1/09/14, 6:42 am
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