Can parents take back the property gifted to their children?Let’s skip the mystery and come straight to the point! The answer is – YES Parents can indeed take back the property they have gifted to their children. Remember: All Gift transactions come under the purview of the Transfer of Property Act. Under this law, a valid gift once […]
An owner of the property can transfer the same in many ways like Will, Gift or Sale.Among family and friends, the property is usually transferred by way of executing a Gift Deed. The process of Gift deed creation is generally the same in all the States of India. There are certain requirements which are specific to […]
Gifting a property is a kind gesture, and it is better to be aware of tax implications for gifting a property.We had a case where Mr Bhushan, an NRI was gifted with land situated in India by his father, a resident Indian. He wanted to know: If a land in India can be gifted by […]