DWQA User Profile sghoshal1963Questions(1)Answers(1)Posts(0)CommentsYes, Agreement between builder and us was made in 2008 which was not registered.At that time builder purchased 50% of the umnutated share of the property from my cousin, thus he became 50% owner and we became 50% owner of the property.It was mentioned in the agreement that we as original owner will get entire 2nd floor upon completion of new building.As 50% of unmutated share of 2nd floor of the builder is icluded in 2nd floor, he transferred his share through registered gift deed to us for making us absolute owner. The fair value of the builder’s share transferred through registered gift deed waS 36 lacs on the day of registration.Question is whether we have to pay tax on 36 lakhs ( gift value ) transferred through gift deed in FY 2017-18On Income tax on giftCrop
