Gift and capital gain tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 January 2014
Dear Experts,
I gifted a residential flat through a registered gift deed having circle value 9.27 lac in 1013 to my younger sister .This flat was received by me in family partition in 2009. As I have transferred an immovable property through a gift deed do I have to pay capital gains tax?
Thanks in advance
I gifted a residential flat through a registered gift deed having circle value 9.27 lac in 1013 to my younger sister .This flat was received by me in family partition in 2009. As I have transferred an immovable property through a gift deed do I have to pay capital gains tax?
Thanks in advance
CA PARAS BAFNA
(Expert)
05 January 2014
You are not required to pay capital gain tax. Your sister is also not required to pay income tax.
.
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