banner_ad

Property given in gift

This query is : Resolved 
Profile Image

Profile Image

(Querist)
14 February 2019 hello, A given a plot of land to B as gift(Without any consideration). A is not relative of B as per income tax Act. The circle value is 42 lacs and stamp duty paid on this value. What will be the taxation effect on both for ITR purpose. kindly give opinion. Thanks in advance.
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
14 February 2019 Gift from non relatives will be taxable. Tax will be payable on 42 lacs treating it as other income.
Profile Image

MOHD SHAHID

Profile Image

MOHD SHAHID (Querist)
14 February 2019 thank U Sir, but let me know the taxation for Donor,
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
14 February 2019 No tax payable by donor.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


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 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details