tax treatment on gifted property
This query is : Resolved
15 January 2011
MR. A gifted house property to his wife Mrs.B of Rs.27.75 lakhs on 19.6.2009.Then Mrs.B Sold the same property Rs. 80 lakhs As on 15.1.2011.what will be the tax treament ? Amt of capial Gain? Is this Clubbing Provision Applicable?
15 January 2011
Clubbing provisions would apply and capital gain would be taxed in the hands of Mr. A which would be the sales price Rs. 80 lakhs - indexed cost of acquisition of Mr. A
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