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INTERVIEW QUESTIONS
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Question: What is the law for Gifts under Muslim Law in India?
Answer: Where donor a Muslim, the gift is called Hiba and is governed by the rules of Muslim Personal Law. For valid Muslim-gift, the only essential requirement is declaration, acceptance and delivery of possession. Registration is neither necessary nor sufficient. Oral gift made by a Muslim is valid irrespective of the value of the property gifted. However, according to Section 17 of the Indian Registration Act, if an immovable property worth Rs. 100 or more is gifted and the gift is made in writing, it must be registered. This section of the Registration Act is applicable to Muslims.
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Gift Tax Interview Questions & Answers -
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Question:
What is the law for Gifts under Muslim Law in India?
Answer:
Where donor a Muslim, the gift is called Hiba and is governed by the rules of Muslim Personal Law. For valid Muslim-gift, the only essential requirement is declaration, acceptance and delivery of possession. Registration is neither necessary nor sufficient. Oral gift made by a Muslim is valid irrespective of the value of the property gifted. However, according to Section 17 of the Indian Registration Act, if an immovable property worth Rs. 100 or more is gifted and the gift is made in writing, it must be registered. This section of the Registration Act is applicable to Muslims. Source: CoolInterview.com
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