Sale of plots
This query is : Resolved
02 November 2012
one of our client purchased a NA land, and made the plots of the same land, 10 plots were sold and 5 plots gifted to his wife, whether such gift is a sale for him....
experts please put your replies
experts please put your replies
02 November 2012
You may show it as gift given in books, however from income tax point the same shall be taxable in the hands of your client under income from other soures, provided the value of plot gifted exceeds Rs. 50,000.
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03 November 2012
if the sale value of 10 plots is 40,00,000 and gifted value of plots is 20,00,000,. whether it will be audited as per sec-44AB?
10 August 2023
No tax audit liability over capital gains.
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