The government levies a compulsory tax on the transfer of rights in a property, known as ‘stamp duty’. We examine how it is calculated and ways to save money on this tax amountThe government levies a tax when there is a transaction of property (i.e., when a property changes hands,...
While bequeathing an immovable property through a will, a testator should clearly specify the share of each person to the exclusion of others, in order to avoid disputesProper succession planning is very important to ensure that the assets owned by you, including any house property, are properly inherited by the...
A gift of a property that is valid and accepted by a donee, cannot be revoked by the donor, except under certain special circumstances. We look at the cases where revocation is possibleWith many children opting to migrate out of India for employment and the gradual disappearance of the joint...
While a gift of house property does not involve monetary consideration, it needs to be registered and taxes should be paid in certain casesGifting is an act, through which a person voluntarily transfers certain rights in an asset to another person, without any consideration. Gifting of house property has a...
Properties can be transferred to someone you love, without any consideration, by way of a gift or through a will. We examine the pros and cons of each method