Joint home loan repaid: Transferring property share to spouse? Know income tax implications
To gift your share of the property to your husband after repaying the joint loan, you need to execute a gift deed, pay stamp duty, and register it. Your husband won't face a tax burden on the gifted share, but any income generated from it will be added to your income annually
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To gift your share of the property to your husband after repaying the joint loan, you need to execute a gift deed, pay stamp duty, and register it. Your husband won't face a tax burden on the gifted share, but any income generated from it will be added to your income annually
