mother (62 years) sold her jwellery rs. 10 lacs and give gift to her daughtere
what will be tax liability for mother and daughter both.
pls suggest if any exemption is aviable for both.
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Capital Gain and Gift Tax Fy 2017-18
Replies (3)
Capital gains tax liability over mother for gain over sell of Jewellery, but no tax liability over daughter for gift of the amount.
If long term holding (more than 3 years), mother can avail exemption u/s. 54F or 54EC.
thanks sir
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