Home |Tax returns filing | I am an Australian citizen. My sister passed away recently and I want to buy a flat for my sister’s children and husband. What are the tax implications for me and my sister’s husband? Can he receive the flat as a gift?

I am an Australian citizen. My sister passed away recently and I want to buy a flat for my sister’s children and husband. What are the tax implications for me and my sister’s husband? Can he receive the flat as a gift?

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Deepali Deepali
Answered on February 05,2020

Yes, you can purchase a flat as a gift for your sister’s husband, and this will not be taxable in his hands. Gifts to specified relatives are exempt from tax. Your sister’s husband is included in the list of specified relatives, as per the Income Tax Act. However, in case there is any income from this asset, it shall be clubbed with income earned by you from India and will be taxable in your hands. Since you are likely to be a resident in Australia for tax purposes, you must also comply with local laws that may apply to such a purchase.

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