Capital gain

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Dolly Jain (Querist)
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13 July 2015 If mother is transfering her property to son weather Capital gain arise or not?If with & Without Consideration ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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13 July 2015 If it is without consideration it will be treated as gift and no capital gain will arise.
With consideration it will be treated as capital gain.

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CMA Gul S

CMA Gul S (Expert)
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14 July 2015 Its treated as a gift and no Capital gain on that

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Dolly Jain

Dolly Jain (Querist)
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14 July 2015 if son than sold the property after 6 month than for son weather it is a long term gain or short term gain? if long term gain than what will be the cost of acquisition to be taken ? the date mother purchased it or date when son got the Gift

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 July 2015 It is a long term capital gain for the son. The date of acquisition will be mother purchased date and the cost of acquisition is what it costed to mother.

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