My wife received a few flats through settlement deed from her mother in 2014. Now she is planning to sell the same. Can she transfer one flat each to her husband and son? Can they both sell the same soon after so that the capital gains can be deferred by each of them through capital gains bonds? Can the flats acquired such be sold immediately there after? Is there a limitation on timing between settlement deed and sale? Thanks in advance.
1) wife can execute gift deed in favour of her husband and son of separate flat
2) it should be duly stamped and registered
3) they can sell the flats and invest sale proceeds in capital gain bonds
4) on gift deed being executed flat should be transferred in society records in name of husband and son
Yes she can make a gift deed through registered gift deed in favour of son and husband,
After gift husband and son shall be absolute owner can transfer same . Yes they can save capital gain this way but stamp duty on gift shall be applicable.
See on immediate sale the short term capital gain is applicable same is high.
No there is no as such timing.
There is no limitation upon the timing of selling of a property as long as you have a marketable title on the property.
Yes you can do all such things as you have mentioned. As far as capital gains tax is concerned she can gift it to you which is non taxable. Afterwards you can sell it.
Regards
You can sell the flat but the capital gains can be calculated from index base ratio that when flats are transfer on your name. The old transfer index ratio will be less.
A person can sell the property in which her/she has clear and marketable title, there is no legal issue involved in selling the property immediately.
Your wife can transfer the flats to you and to your son immediately by a settlement deed also.
You both can sell the properties as and when you want to dispose them.
1. A owner of a property through a deed of settlement can transfer the same to anyone she lies which include her son/daughter, mother , husband or whosoever.
2. Now of they sell the property soon after the transfer the CGT will be attracted for sure unless the money obtained through the same is reinvested.
3. There is no restriction of time between gift and sale.
she can execute gift deed in favour of her husband and son,you both can also sell the said property without any issue.
Yes they can do the above. No limitation. It's advisable to do it asap
Yes.
No excemption for short term capital gain , to avail tax excemption , have to hold property for 3 years at least.
You can sell but not tax excemption available.
As your wife has acquired the property through a settlement deed, she has good title over it. She can very well sell the property now. Legally, there is no limitation as such.
Dear Client
Yes she can transfer the flat one each to husband and son and they both can sell the flat recieved whenever the want to sell as there is no limitation For selling the property recieved through gift deed.
