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
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- GST ON TRAVELLING BILLS
- F & O PROFIT REPORTING FOR AY 2026-27
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
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
