Tax on gift deed

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ANIL SHARMA (Querist)
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14 January 2016 If a non relative gifts a piece of land an nil consideration then the receiver has to pay income tax on the stamp value rate, i would like to know can the receiver take benefit of cost of acquistion and indexation of the original purchase price of the land while calculating income from other soruces

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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18 January 2016 Benefit of indexed cost of acquisition of previous owner who has gifted the asset can be availed only in case the transfer of asset is made which is liable for long term capital gains.

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