Gift provision
This query is : Resolved
21 August 2013
WHAT IS THE MEANING OF
IN CONTEMPLATION OF DEATH OF PAYER OR DONOR UNDER 56{2}?
ALSO EXPLAIN TAXABILTY OF IMMOVABLE PROPERTY GIVEN AS GIFT?
IN CONTEMPLATION OF DEATH OF PAYER OR DONOR UNDER 56{2}?
ALSO EXPLAIN TAXABILTY OF IMMOVABLE PROPERTY GIVEN AS GIFT?
21 August 2013
It means when assessee is on the verge of dyeing and when he transfers to some1 u/s 56 (2) it is exempted.
22 August 2013
how it can be proved ,give an example for this type of situation
22 August 2013
Eg when assessee is in hospital and before a qualified practicing lawyer he transfers to his legal representative.
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