Capital Gain
This query is : Resolved
19 February 2017
If I have acquired a property for Rs 10Lakh and transfer it to UNKNOWN person say Mr .X,
then what is the taxability in the hands of me and Mr X.???
Message likes :
1 times
19 February 2017
Also, I have transferred the same for NO consideration.
20 February 2017
The market value of the property will be treated as capital gain.
21 February 2017
Please mention detail answer for Transfor and transfree
21 February 2017
If you transfer a capital asset to another person without any consideration ie as a gift, there is no capital gain tax for you by virtue of Section 47(iii).
Your acquisition cost is the cost to transferee
Your acquisition cost is the cost to transferee
21 February 2017
This transfer may not be treated as gift may be treated as relinquishment of asset or settlement
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
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Tax on Deemed Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Banking Related Issue
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- 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
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
