IntroductionThe Property Transfer Act, often a subject of great interest for both domestic and non–resident Indians (NRIs), significantly regulates property transactions in India. This legislation governs the transfer of property from one entity to another. Understanding the rights and obligations of NRIs regarding property transactions in India is crucial. Furthermore, the Property Transfer Act plays […]
Tag: Property tax
Tax implications on a gifted property
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 […]