Gifting of a house property in India has certain income tax and stamp duty implications. Gift deed stamp duty in India varies from state to state and can range between 2% and 7% of the property value. Gift deed stamp duty in 2023 Gift deed registration charge How to calculate stamp duty ...
I am the sole owner of the house that my spouse and I have lived in for the past 17 years. I have no mortgage. If I add him to the deed as a joint tenant, will I have to pay gift tax? Would it be better to do a transfer-on-death deed, ...
gift to the beneficiaries is not a completed gift during the owner’s life. This means that no gift tax is owed if the property is transferred by gift. It also means that the property will qualify for the full basis step-up at the owner’s death, effectively erasing any capital gains....
Continuity of Ownership– A TOD deed does not change the character of the property in the hands of the owner. The property continues to qualify for any state and federal tax benefits, including homestead exemption, the capital gains exclusion for sale of a principal residence, and the federal ...
Six years on, the cashflow numbers no longer add up on domestic residential real estate. Buy-in prices too high. Yields too low. Tax regime too predatory, for well-located residential property. Further afield, the pendulum of regulatory balance has swung in favour of the tenant. Rent contro...
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I am the sole owner of the house that my spouse and I have lived in for the past 17 years. I have no mortgage. If I add him to the deed as a joint tenant, will I have to pay gift tax? Would it be better to do a transfer-on...