Dear friends,
I have got a query. A woman assessee owns a property (3 pieces of land of 11 cents each). She has three children and now she wants to settle her properties to her children. her query is whether to sell the land by herself and give it equally or settle it by gift by settlement. Which is beneficial to her and to her children? If she sells the property whether any capital gain benefit will she get orelse the same can be sold by her children. In that case her children won't get LTCG benefit as they wish to buy a flat after they get the money. Which is beneficial in this situation?
Kindly clarify at the earliest
Regards,
Lalitha
CAclubindia
