sanjay kapoor
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addition / transfer to family member in GGN
Q: Inclusion of son in the HUDA plot letter before possession My mother aged 72 has been allotted a plot by HUDA 10 years back. She wants: 1. My name to be included in the letter of allotment as co owner by way of gift 2. Plot be transferred to me in HUDA records by gift. Plot is in before possession stage. Payments are still on being paid by mother, me, and wife. HUDA allows this by simple dox and nominal fee (in case of family members). What is Income taxability of above for option: SN 1. SN 2. What is stamp duty applicability, if any? Please note that offer of possession not yet made by HUDA.

Latest Answer: if Stamp Duty value is more than Rs.50000/- : For Donor: No Capital Gain because u/s 47(iii) it is not consider transfer. For Donee: - SDV is income from other Sources u/s 56(2)(vii). - COA will be SDV. Holding period will be counted from acquisition of property by donee.

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