Tax effect

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(Querist)
07 December 2013 What would be the tax effect in the hand of Mr.A who inherited bank balance Rs.3,00,000 as nominee, shares for worth Rs.3,00,000 which he suppose to sale and in the same way a home worth Rs. 8,00,000 from his Grandfather ?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
07 December 2013 No tax payable as its a gift rec for shares and home from relative u/s 56(2).
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CA Jaydeep Vaghela

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CA Jaydeep Vaghela (Querist)
12 December 2013 But are we liable to Capital gain when we actually sale shares and home ?
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