capital gain on amount from father
This query is : Resolved
Prakash Rao
(Querist)
30 September 2017
My daughter in laws father wish to give 30lacs to her towards settlement of her share against house at Bangalore.Hecis having house at Bangalore and he has two daughters one is our daughter in law .so they have decided to give 30 lacs to my daughter in law towards share of the property and accordingly agreement has been done and transfer the property to eldest daughter
My qtn how my daughter-in-law has to take 30 lacs and any longterm capital gain or it wii be attract pl suggest me how to take the amount from her father
CA R SEETHARAMAN
(Expert)
30 September 2017
Ask your daughter in law's father to gift the entire property to elder daughter no tax applicable as gift to relative. In turn ask elder daughter to gift 30 lacs to your daughter in law no tax applicable. Capital gains tax will not arise.
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