Can Brother gift property to brother in India?

If you want to transfer the property to your brother you can execute a registered gift deed. For this there is no stamp duty if the transfer is within the close relationship. The applicable registration charges have to be paid before the registrar’s office.

Can NRI gift property to relatives in India?

Definition of Relative in FEMA to mean the definition as per the Companies Act, 2013 which include- spouse, father, mother, son, son’s wife, daughter, daughter’s husband, brother and sister of the individual. Gift of immovable property located in India, is permitted to NRI.

Can a property be gifted to brother?

If you wish to transfer your share in the house to your brother, you may do so by executing a gift deed in favour of your brother with respect to your half share in the house. A gift of immovable property should be in accordance with section 122 of the Transfer of Property Act, 1882.

How much money I can give to my brother in India?

He can gift you the entire amount of Rs. 20 lakhs at a time or in as many instalments as he feels like. 2. You should take a notarised affidavit executed by him affirming that he has gifted the said amount to you.

Can a brother gift property to his sister?

A property can be gifted from brother to sister in the form of a registered gift deed. It is not necessary to take wife’s consent because the property becomes the self-acquired property of the donee when his grand father gifted the property to the present donor.

Can Brother gift money to Sister in India?

3) Gifts from specified relatives are exempted, regardless of amount. These relatives are spouse, father, mother, brother and sister. They also include any lineal ascendant or descendant of the individual or his spouse as well as brother/sister of the spouse.

Can a brother gift money to his sister?

Can brother gift property to sister?

How can I transfer my brother property to my sister in India?

1. A property can be gifted from brother to sister in the form of a registered gift deed. 2. It is not necessary to take wife’s consent because the property becomes the self-acquired property of the donee when his grand father gifted the property to the present donor.