Taxation
This query is : Resolved
GONUGUNTA HANUSHAW
(Querist)
10 March 2017
Clarify the following :
1. Agricultural land sold and purchased residential property - whether any capital gain tax attracts?
2. Whether father gift any amount to daughter - any gift tax attracts
10 March 2017
if it is agricultural land as per the population of the nearest municipality as defined in income tax law than no capital gains on its sale as it is not a capital asset. Father can give any amount as gift to daughter.
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