Capital gain
This query is : Resolved
22 August 2014
If a father is giving a house property to his married daughter who is NRI as a gift. Then what would be consequences in Income Tax Act when the daughter will sell out that property...Cost of acquisition in the hand of daughter would be NIL or cost to the previous owner?
22 August 2014
Actual cost of the previous owner. Please see section 49(1)(ii) of the Income tax Act,1961.
Rupesh Jain
(Expert)
22 August 2014
cost of the previous owner will take .
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