Capital gain

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Querist : Anonymous

Querist : Anonymous (Querist)

30 November 2011 If an assessee transfer all his asset,business to his Spouse ,whether Spouse is liable to pay capital gain tax.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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30 November 2011 The transferor is liable to Capital Gains tax and not the transferee.
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The provisions of capital gains are applicable in connection with the capital assets only. For Trading assets like stock etc, provisions of business income will apply.
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