I own two flats with my wife. I want to buy a new flat, but for tax benefits, I’d like to transfer ownership of the older flats to my wife and our minor child. Can I do this and how?

Under Indian law, you can transfer ownership of your flats to your wife and child. This can be done through a gift deed, which requires registration and payment of stamp duty. However, consider potential tax implications, as transferring property to family members might be subject to capital gains tax.