Question ID : 29608

Transfer of property

Three Ladies, joint owners of a commercial property 13 share each have gifted their shares to there husbands( who are brothers)and property has been transferred to their husbands. After a week two brothers out of three surrender their share in favour of third brother who has become owner of whole property. Indirectly two ladies in question have transferred their shares to their brother in law. Whether this can invite problem from Tax authorities? Further whether any gift deed is also required?

posted by Mahesh Kumar on Apr 29 2018 12:00AM