Is it possible for a brother to gift property to his sister?
According to Vivek Jalan, a partner at Tax Connect Advisory Services LLP, brothers are permitted to gift property to their sisters without triggering immediate income tax, as siblings are classified as 'relatives' under the Income Tax Act. Nevertheless, the sister will be subject to tax once she decides to sell the property. In such cases, capital gains are determined by taking into account the brother's initial purchase price and the total duration he held the asset.
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