banner_ad

GIFT transaction and capital gains tax applicable

This query is : Resolved 
Profile Image

Profile Image

(Querist)
05 October 2022 Sir,
A it person own property (cinema theatre) gift to sister's son after another date sister's own property (cinema theatre) gift to brothers son received.
Question:
Above mentioned two gift transaction allowed and capital gains tax applicable.
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
06 October 2022 Yes, both are allowed provided both the Gift deeds are registered with appropriate stamp duty paid.
No capital gains tax applicable, as per sec. 56(2)(x) sub sec. 4 of the act. i.e.

For the purpose of this section, “relative” means:

In case of an individual-

1. Spouse of an individual
2. Brother or sister of the individual
3. Brother or sister of the spouse of the individual
4. Brother or sister of either of the parents of the individual ................
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
06 October 2022 Both the transaction income tax applicable as gift in excess of 50000.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details