Capital gain
This query is : Resolved
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
(Expert)
30 November 2011
The transferor is liable to Capital Gains tax and not the transferee.
.
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.
.
.
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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