Gift of immovable property from a firm
This query is : Resolved
Guest
Guest
(Querist)
08 January 2012
Please clarify me whether the gift of immovable property received by the children from the partnership firm in which their parents are the only partners be exempt as a gift from relative u/s 56 of Income Tax Act,1961
08 January 2012
The better way is to get asset transferred to any or both of the parent partners and then after it would be gifted.
.
.
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- 44AD VS 44AB AUDIT
- Correction in TDS return New Traces Portal
- Multiple payment of self assessment tax for A Y 2025-2026
- Query Regarding Refund Adjustment Against Outstanding Demand
- Computation of Dividend
- Multiple GST under same PAN
- WHERE I SHOW GST 0% INVOICE IN GSTR1 (EITHER TABLE 7 OR TABLE 8)
- TDS on land property purchase Form-141 related query
- TDS Intimation(Short Deduction)
- OTP ISSUE XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
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
