https://www.taxtmi.com/forum/issue?id=121098 Gifts of immovable property received without consideration ordinarily attract taxation by reference to stamp duty value unless received from a qualifying relative. The donor's status as the wife of the donee's biological uncle, and additionally as adoptive mother under a valid registered adoption, may support the relative exemption. KYC records do not alone determine the legal relationship, but the gift deed should clearly record and support both relationships. Stamp duty value is not automatically tax cost or accounting carrying value; prior owner's cost generally remains relevant for future capital gains, while accounting treatment depends on classification and applicable standards. en-us Wed, 02 Sep 2026 23:14:00 +0530 Sun, 06 Sep 2026 11:03:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=121098 Gifts of immovable property received without consideration ordinarily attract taxation by reference to stamp duty value unless received from a qualifying relative. The donor's status as the wife of the donee's biological uncle, and additionally as adoptive mother under a valid registered adoption, may support the relative exemption. KYC records do not alone determine the legal relationship, but the gift deed should clearly record and support both relationships. Stamp duty value is not automatically tax cost or accounting carrying value; prior owner's cost generally remains relevant for future capital gains, while accounting treatment depends on classification and applicable standards. Discussion-Forum Income Tax Wed, 02 Sep 2026 23:14:00 +0530 https://www.taxtmi.com/forum/issue?id=121098