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Capital gain

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(Querist)
22 April 2014 there is one residential house which has three owner and all are relatives and one of them want to sell the property to other two owner or relinquish his right in favour of relatives, woulde capital gain arise on relinquishment of right in favour of his relatives.
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Rupesh Jain

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Rupesh Jain (Expert)
22 April 2014 if he have blood relation then he can give gift to another two co owner.

other wise capital gain if any tax will pay by co owner.
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Sandeep Dharar

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Sandeep Dharar (Expert)
22 April 2014 Yes it is a Capital Gain.

But if the co owner is gifting the property to the relatives then CG will not b applicable.
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