gift dees
This query is : Resolved
03 October 2017
as father we sold residentoal property to my eldest daughter for a sale consideration of Rs 45 lacs anout one year back and now i wish to transfer of 30 lackz to 2nd daughter by way of gift through cheque whther it is regiztered then what registeration chages in karnataka
my qtn is whether i can pay long term capital gain or not pl let me know
03 October 2017
No capitak gain arises on transfer of 30 lakh to second daughter aa gift from relative is exempt.
03 October 2017
Sorry wrongly replied
03 October 2017
Gift received by daughter is exempt.
03 October 2017
While father has to pay Capital Gain tax as he received consideration from his daughter at the tym of selling property.
03 October 2017
Rashmi ji, i agree with your views. Consideration received from 1st daughter is under capital gains
Message likes :
1 times
03 October 2017
For gift to second daughter, it is exempt.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Regarding Applicability of Tax Audit u/s 44AB
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Reprocessing of rectification order AY 2025-26
- Section 50-fixed asset-->building ceases to exist
- TDS on TRUST
- Consolidated financials
- Withdrawal in cash from partners capital account by partner
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
