BusinessPhoto: News18 Business7 Key Things to Know Before Gifting Property to Children
Gifting property to children during your lifetime can prevent inheritance disputes but involves important considerations. A registered gift deed transfers ownership immediately, making revocation difficult except in cases of fraud. Parents should consider stamp duty, future taxes, and personal financial security before gifting. Stamp duty varies by state, with Maharashtra charging Rs 200 and Uttar Pradesh Rs 5,000. No immediate tax applies to the child, but capital gains tax may arise on future sale.
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