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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Exchange of propertys capital gains tax applicable
Replies (4)
As per Section 47(iii), capital gains tax will not be applicable in both the above inter-related cases, in my humble opinion.
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.
Its not taxable
No it's not taxable
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