Menu
Capital gain tax
ex.. mother sell a land 40 lakhs she is given to 30 lakhs to son in this case what amount is considered as a capital gain tax 40 0r 10 ? is there any relaxation of gifted to amount family members ?
Replies (1)
There will be long term capital gain (40 lakh - cost of acquisition) and accordingly there will be tax in mother's hand.
If mother gift this money to son , son will not be subject to tax as the gift from the relative is not covered in the taxable income in the hands of the receipients
If mother gift this money to son , son will not be subject to tax as the gift from the relative is not covered in the taxable income in the hands of the receipients
Recent Topics :
- Hotel stay below Rs.1000/- GST applicable or exemp
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Generate E-Way Bill for 4 Nos. Suppliers Involveme
- Section 54F Exemption
- Would you use a free, open-source alternative to s
- Business & Finance
- Report in GSTR 1 ( Credit Note ) for Wrong GST Rat
- Reply of summons issued under section 70 of the cg
- How to Bulk GSTIN Number Verify and Validation
- OPC Annual Filing Defaults – Need Guidance t
Related Topics :
CAclubindia
