Govt emplyee receiving cash rs 7 lac from father by selling property
This query is : Resolved
Rajkiran Soni
(Querist)
14 April 2015
if a govt employee receives rs 7 lac as his share from his father who has sold his property. would this amt be taxable or not?
CA PARAS BAFNA
(Expert)
14 April 2015
If Father is selling his own property and giving Rs. 7 Lac to his son, the amount is not taxable in the hands of son. However, father will be liable for capital gains tax.
if there be any.
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if there be any.
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