Transfer of property under gift deed is not taxable
Any transfer of property under a gift is not considered as a taxable transfer, in the hands of the transferor
My family has four people—my wife, two kids and myself. I have joint properties with my wife. My children are majors and I want them to lead their life by themselves; so I want to separate the properties equally among all 4 family members through a settlement deed. As per HUF laws, can I make settlement deed written through a memorandum of understanding (MoU) without going for registration? Will this settlement deed through MoU attract any capital gains tax? Please advise.