Akula Srinivas (Accounts Officer) 10 March 2015
Please clarrify my issue
X purchased a Flat worth of Rs. 21 lakhs in 2006. X gifted the same to Y (his father) through gift deed with out consideration in 2008. Y sold that property in 2014 for Rs. 40.50 lakhs.
How much is capital gains and whose hands it is taxable.
please do the needful
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Vishal Goel (Chartered Accountant) 11 March 2015