Are gifts of immovable property received by an individual or HUF charged to tax?​​​​

If the following conditions are satisfied then immovable property received by an individual or HUF will be charged to tax (*):

Immovable property, being land or building or both, is received by an individual/HUF.

The immovable property is received without consideration (i.e., received as a gift) or for a consideration which is less than the stamp duty value of the property by an amount exceeding Rs.50,000.

The immovable property is a 'capital asset' within the meaning of section 2(14)​​ for such as individual or HUF.

The stamp duty value of such immovable property received without consideration exceeds Rs. 50,000.

(*) Refer next FAQ for situations in which immovable property received without consideration (i.e., received as a gift) by an individual or HUF is not charged to tax.​