Capital gain on gifted property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 October 2015 My grandmother bought a piece of land in 1998. She expired i in 2014 and my mother inherited it through the the will in 2014. Then she gifted me (her son) in 2015. Can i sell the land and avail of ltcg or will it be a short term gain ?

Thanks

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

12 October 2015 sec 49(1) :Where the capital asset became the property of the assessee—

(i) on any distribution of assets on the total or partial partition of a Hindu undivided family;

(ii) under a gift or will;

(iii) (a) by succession, inheritance or devolution, or

so? Cost to previous owner as ell as period of holding to previous owner

yours is Long Term Capital Gain

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Ashwin Tanna

DSK TMC

avulaandcopdrl 2023

Pawan Haryani

ramesh kumar

Subscribe Now

Capital gain on gifted property

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Accountant

Senior Executive

Manager- Finance and Compliance

CA Final

GST CONSULTANT