- This topic has 2 replies, 2 voices, and was last updated 1 year, 1 month ago by
.
Viewing 1 reply thread
-
Posts
-
-
DHi experienced members,
My father in law wants to sell some portion of his age old Land parcel to do repair / further construction of his existing house. I am interested to buy the land from him. I do not mind if he gifts it under a gift deed to his daughter (my wife).
1) What are the possible ways that the legal / tax implications for both me and my FIL is least? I am salaried and have 100% tax paid money
2) does the situation change if the property is to be in my name / jointly held with wife
Please please help. Thanks in advance
-
SAsk your father in law to register a gift deed in your name. Some minor charges will have to be paid for the registration.
Once that’s done, you can gift money to your wife, which in turn she can gift it to her father. Its better this way than direct transfer.
-
-
Viewing 1 reply thread