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Exchange of propertys capital gains tax applicable

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B.com
3022 Points Posted on 12 October 2021
two it persons (brothers)
1.1st person house property exchange to 2nd person
2.2nd person vacant site exchange to 1st person
question:
above transactions two assess property exchange capital gains tax applicable in it act.
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On 12 October 2021 at 22:22 Report
Replies (4)
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790 Points Posted on 12 October 2021
As per Section 47(iii), capital gains tax will not be applicable in both the above inter-related cases, in my humble opinion.
2 Reply
On 12 October 2021 at 23:30
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Practising CA
8954 Points Posted on 13 October 2021
Dear Sir, if you structure it as an exchange, then it is taxable as capital gains. However, if you plan the transaction as a gift, then not taxable. But there are intricacies in your case and requiring solid structuring.
30 Reply
On 13 October 2021 at 00:13
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tax consultant
3306 Points Posted on 13 October 2021
Its not taxable
9 Reply
On 13 October 2021 at 00:34
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Chartered Accountant
24588 Points Posted on 13 October 2021
No it's not taxable
129 Reply
On 13 October 2021 at 06:19


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