22 June 2013
Planning is to be done only before anything is sold or any action has been taken. In this case property has already been sold. Now the father wants to give some amount to his sons. He is to do the following: 1) Calculate the Capital Gains and determine the Capital Gains Tax and Pay the capital Gains tax. 2) Execute a gift deed in favour of the sons 3) Issue the cheques to the sons. Here you can give the planning that if father wants to create HUF of the sons then the Gift should be given to the HUF of the sons
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