Receiving property as gift in India

Hi, I am a British citizen (by naturalisation). My parents are Indian citizens and live in India. They want to gift me their property in India. Questions for you are: 1) Do I need to pay any tax on this gift? 2) Do I need to declare this gift? Regards, Mukesh Lahori

Hi,

Please see Tax when you sell property.

Tax when you sell property

There will be no tax for you to pay when the property is transferred to you but you may be liable for Capital Gains tax when you sell the property.  

You do not need to declare the gift when it is transferred, only if liable for Capital Gains tax when sold, would it be declared.

Thank you.