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Tax: Planning to gift a house to your wife? First, understand this LTCG rule

It is often observed that people gift property to their spouses (husbands or wives)—either to express their love or to secure ...
SFGate

This New England State Is the Only Place in the U.S. Where You’ll Pay an Extra Tax for Giving Your House Away

But what many don’t realize is that gifting property, or even the cash to buy it, can come with unexpected tax consequences. Under federal law, certain gifts might be subject to the gift tax, and if ...
The Financial Express

Man gifts a house to father; Income Tax Dept questions ‘timing and intent’ – ITAT flags these lapses

The ITAT denied a taxpayer's Rs 2.63 crore exemption under Section 54F after finding that a property gifted to his father ...