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Gift to married daughter

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26 April 2015 If a senior citizen 'gifts' the proceeds from sale of her 'house property' to her two 'married daughters' .. What will be the tax treatment for all the three assessees ??
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
26 April 2015 Gift to relatives u/s 56(2)(vii) is exempt from Tax. Therefore no tax implication for all the three assessees.

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