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It transaction accepted

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Kollipara Sundaraiah

Kollipara Sundaraiah (Querist)
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02 September 2022 Sir,
Brother gives some money amount from sister for the purpose of rights withdraw in father's immovable property.
Question:
Above transaction accepted and show procedure in books and capital gains applicable in it act.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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02 September 2022 There has to be some registered deed and bank transfer for the agreed amount. In that case, the LTCG will occur to sister, rights giver. In the books of brother the amount is debited to the property account.

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