case 1
A get immovable property from B for Rs 500000 (stamp duty value Rs1000000) on 2-10-2009...he sold the same for Rs 1200000 within a year...plz tell about tax incidence on A and B in IFOS and CG!!!
case 2
Does it make any difference if B is the relative of A.
plz tell...its urgent..
thanks...
case 1
in hands of A....500000 is taxble as gift and 200000 is taxble as STCG
in hands of B...500000 shud be under head CG...
case 2
if B is relative of A thn nothing will be taxble in hands of B as gift......
| Originally posted by : Ashish Tibrewal | ||
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case 1 in hands of A....500000 is taxble as gift and 200000 is taxble as STCG in hands of B...500000 shud be under head CG... case 2 if B is relative of A thn nothing will be taxble in hands of B as gift...... |
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if m not wrong then in this case full value of consideration in hands of B will be the stamp value...rit..??
ohhh yes...i m rely sorry....in hands of B 100000 shud be charged under CG....
thanks a lot...!!
CAclubindia
