it assessess (brother) own immovable property value rs:60 lacs gift or exchange to sister son
another person (sister) own immovable property value rs:80 lacs gift or exchange to brothers son
question:
1.benefit of two propertys gift or exchange in it act.
2.sec 56(2) applicable and capital gains applicable in it act.
1. Gift is beneficial, as no gift tax over 'Relatives'.
2. As per explanation under sec. 56(2) of act, both the transactions are gifts from relatives. So no capital gain liability while gifting.
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