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How Can I Transfer My Father-in-Law's Property to My Wife? (Tax Implications?)

T S Khurana

T S Khurana   |427 Answers  |Ask -

Tax Expert - Answered on Feb 10, 2025

A certified management accountant since 1993, T S Khurana is a fellow member of The Institute of Cost Accountants of India. His areas of expertise are income tax, specifically litigation cases, and GST.

Since the last 21 years, he has also been providing expert advice on financial matters, including investments and diversification of funds, and wealth building in the long term to his clients.
He believes that investment in real estate is the safest way for better returns and wealth generation over a period of time.

A former chairman of the Chandigarh Chapter of Institute of Cost Accountants of India, T S Khurana has also served as member of its technical committee.... more
Asked by Anonymous - Dec 28, 2024Hindi
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Hello My father in law wants to transfer his owned residential property to my wife's name. Apart from will what are the other ways through which he can transfer? And what would be the taxation component?

Ans: He may Gift the property to his daughter.
Another way would be to transfer the property through Registered Sale Deed, BUT in this case Registration charges would be applicable.
Best option is WILL or GIFT. Income Tax shall not be applicable, in either these cases.
Most welcome for any further clarifications. Thanks.
Asked on - Feb 11, 2025 | Answered on Feb 12, 2025
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Thank you Sir for your response. I would further want to ask that the since the property is HUF registered property in his name, what would be the procedure for registration for gift deed in favour of my wife? She has has 2 sisters also.
Ans: Please confirm, whether your wife is a member of HUF, from where property is to be gifted or not ?
Most welcome for any further clarifications. Thanks.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Asked by Anonymous - Mar 18, 2025
Relationship
I am 21 years old girl and I am preparing for my banking exam. I have completed my bachelor's and currently I am pursuing m.com . I am having an affair with a guy who is married having two children and we have together spent 4 years. We love each other alot and he also takes care for me everytime. My mother abstained me from talking to him last year as we committed her that we want to marry but now everything is ok My mother is also talking to him and I am also . My mother is not agree with this marriage but his mother is agree . What should we do now???
Ans: Hello mam,
I understand your dilemma mam. Let's look at both aspects of this relationship.

If you go ahead with this relationship, what have you thought about his previous family? His marital status and family commitments can't be ignored. Have you considered the potential impact on his children and wife? Their life will be ruined and kids future will be at stake.

Secondly, your mother concern is very important and correct. The person who already has family commitments will not be able to invest the same amount of financial and emotional resources in your relationship.

I understand that you have invested four years in your relationship and you both care for each other. But in this case, it is advisable for both the families to sit and discuss every aspect and problems of this situation. The situation will get clear and you ll be able to take a better decision. You can also try couple counsellings.

In case the things dont work out then accept the reality and move on gracefully and welcome the opportunities that are waiting for you with open arms.
Take care !
Reach me:
https://www.instagram.com/dr_upneet

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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