My sister who is developing a property held by her long term is now planning to gift a portion of her rights to her major children to minimise capital gains tax.The agreement with the developers is to be signed shortly. Does my sister stand to gain by way of cap gains?
1 Answers
If property is gifted to anybody else through a registered gift deed, then capital gain won't be applicable on such transaction. However when gift receiver sells this gifted property, normal rules would apply.
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