Capital gain
This query is : Resolved
11 February 2013
Father transferred a property to his son and received consideration and sale deed is also prepared...can same be taken as gift and not taxable. Please reply it on urgent basis....!!!
11 February 2013
Dear Poonam,
since the sale deed is made and consideration is received, it cannot be shown as a gift.
for showing it as a gift, a gift deed should be prepared and ideally, no consideration should be received...
since the sale deed is made and consideration is received, it cannot be shown as a gift.
for showing it as a gift, a gift deed should be prepared and ideally, no consideration should be received...
11 February 2013
These are the transaction which amount to " Transfer" under the caption capital gain.
" Gain arising from the transfer of capital asset shall be chargeable to tax under this head of account".
These are the transaction in the nature of "Sale of asset" and neither Gift nor Inheritance".
" Gain arising from the transfer of capital asset shall be chargeable to tax under this head of account".
These are the transaction in the nature of "Sale of asset" and neither Gift nor Inheritance".
11 February 2013
The deed itself is prepared because of some issue in name in factory building and dats why they it has to be prepared its juz a paper work n no real transaction...is dere any remedy available for him to escape capital gain tax....!!!
11 February 2013
Poonam,
Unfortunately there is no escape to CG Tax. since this cannot be taken as gift, CG Tax has to be paid....
Unfortunately there is no escape to CG Tax. since this cannot be taken as gift, CG Tax has to be paid....
11 February 2013
ok Thank u...!!! :)
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
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- 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
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
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
