gift dees
This query is : Resolved
Prakash Rao
(Querist)
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
CA Rashmi Gandhi
(Expert)
03 October 2017
No capitak gain arises on transfer of 30 lakh to second daughter aa gift from relative is exempt.
CA Rashmi Gandhi
(Expert)
03 October 2017
Sorry wrongly replied
CA Rashmi Gandhi
(Expert)
03 October 2017
Gift received by daughter is exempt.
CA Rashmi Gandhi
(Expert)
03 October 2017
While father has to pay Capital Gain tax as he received consideration from his daughter at the tym of selling property.
K Srinivas, CMA CS
(Expert)
03 October 2017
Rashmi ji, i agree with your views. Consideration received from 1st daughter is under capital gains
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K Srinivas, CMA CS
(Expert)
03 October 2017
For gift to second daughter, it is exempt.
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