Capital gain on gifted property
This query is : Resolved
15 September 2014
My father want to transfer a residential property to me through gift deed.So when i sell this gifted property whether i have to pay capital gain tax on whole receipt or on the difference between the cost at which my father bought this property and selling price.
And also if i have to pay capital gain tax on only the difference amount whether indexing would be allowed or not.
And also if i have to pay capital gain tax on only the difference amount whether indexing would be allowed or not.
16 September 2014
1. Cost as incurred by your father to buy this asset will be the cost to you also
2. indexation shall be allowed
2. indexation shall be allowed
18 September 2014
I agree with Nikhil Sir.
Whether to go for indexation or not, will depend on which way you have a higher tax liability.
But the answer to your question is, indexing would be allowed.
Whether to go for indexation or not, will depend on which way you have a higher tax liability.
But the answer to your question is, indexing would be allowed.
18 September 2014
Dear Bajaj Sir,
I am way too junior to be called Sir by you :)
I am way too junior to be called Sir by you :)
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