22 December 2013
Hello CCI members and professionals , If an assessee transfers his flat (gift) to his younger brother @3% stamp duty and 1% registration charges on sub registrars valuation, then : 1) IF assessee purchases another flat, will the gifted flat be treated as additional flat held by him and hence notional rent is to be added for income tax calculation ??
2) As and when the gifted flat is sold, can the stamp duty and registration charges that were paid at the time of gifting be added to the cost of the flat for arriving at capital gain ???? calculation for assessee
CAclubindia
