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Capital gain on transfer

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 April 2014 Dear members,
Clarify me!
x and y are brothers and they received the house property by partition from their father. later, X transferred his portion to Y and received 10 lacs (not as a consideration). what is the capital gain impact on it
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Rupesh Jain

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Rupesh Jain (Expert)
16 April 2014 in that case cost of acquisition will take of his father cost of this house.
if his father take house from his father then cost of his father .

period will take from current owner for LTCG or STCG


and compute the tax
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Querist : Anonymous

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Querist : Anonymous (Querist)
17 April 2014 i need some more clarification on applicability of capital gain. Is this an transfer U/s 47
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