Hi friends,
Mr.A trasfers an immovable property to his daughter Mrs.B and within 4 months Mrs.B trasfers the same property to her son Mr.C. Is there any condition on the period of holding by Mrs.B, if so what are the tax implications?
Thank you.
vishnu priya (student) (27 Points)
14 October 2014Hi friends,
Mr.A trasfers an immovable property to his daughter Mrs.B and within 4 months Mrs.B trasfers the same property to her son Mr.C. Is there any condition on the period of holding by Mrs.B, if so what are the tax implications?
Thank you.
CA R SEETHARAMAN
(CA Practice )
(143506 Points)
Replied 14 October 2014
Mr A can gift to Mr. C without any tax implication, hence there is no tax avoidence in this transfer.
Sumeet Lunkar
(CA)
(48 Points)
Replied 14 October 2014
However stamp duty needs to be paid for transfer of title to the property in each case of gift.
*RENU SINGH *
(✩ §m!ℓ!ñġ €ม€§ fℓม!ñġ ђ♪gђ✩ )
(21627 Points)
Replied 15 October 2014
agree with both views .....a complete answer.
CAclubindia
