TRANSFER OF PROPERTY
This query is : Resolved
24 February 2011
TRANSFER OF PROPERTY BY AN INDIVIDUAL TO HUF WILL B REGARDED AS TRANSFER IN CAPITAL GAIN OR NOT...........IS THERE ANY CLUBBING PROVISION WILL ATTRACT.......
PLZ RPLY AS SOON AS POSSIBLE.....
IT'S URGENT
PLZ RPLY AS SOON AS POSSIBLE.....
IT'S URGENT
24 February 2011
1. If the transfer is against adequate consideration, then it will be definitely regarded as transfer and capital gains, if there be any, will be taxed in the hands of the transferor.
2. Clubbing Provisions will attract when the transfer has been made otherwise than adequate consideration. In this case property so transferred is known as converted property. For more details pl. refer Section 64(2)
2. Clubbing Provisions will attract when the transfer has been made otherwise than adequate consideration. In this case property so transferred is known as converted property. For more details pl. refer Section 64(2)
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