Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 October 2012
DEAR SIR
INDIVIDUAL WANTS TO GIFT AN IMMOVABLE PROPERTY TO HIS RELATIVES AND AFTER SOME YEAR HE RECEIVED BACK SAME PROPERTY FORM HIS RELATIVE AS GIFT. IS TI POSSIBLE WITHOUT ANY TAX LIABILITY EXCEPT STAMP DUTY ON GIFT
INDIVIDUAL WANTS TO GIFT AN IMMOVABLE PROPERTY TO HIS RELATIVES AND AFTER SOME YEAR HE RECEIVED BACK SAME PROPERTY FORM HIS RELATIVE AS GIFT. IS TI POSSIBLE WITHOUT ANY TAX LIABILITY EXCEPT STAMP DUTY ON GIFT
16 October 2012
1. Gifts are exempt u/s 47. Accordingly there will be no tax liability on the assessee when he gifts the property.
Further, if the recipient is a relative, then there is no tax implication in the hands of the recipient.
2. When the recipient gifts the property back to the assessee there will be no tax implication either in the hands of the assessee or the relative.
Further, if the recipient is a relative, then there is no tax implication in the hands of the recipient.
2. When the recipient gifts the property back to the assessee there will be no tax implication either in the hands of the assessee or the relative.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- Unregistered suppliers utility
- NRI starting business in India
- ITDS U/S.194T of Firm
- ADVANCE PAYMENT OF ADVOCATE
- Non-Compliance documents have not been submitted by the contractors debited
- UNWANTED CREDIT BALANCE OF GST AS PER BOOKS
- FORM 141 SDV query
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- Taxable or Tax exempt
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
