if i am a real estate dealer and gave 1 building as gift to Mr.X ...what are tax consequences in my hand??
if it is a capital asset it will b exempt.but what if it is a stock in trade??
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gift of stock in trade
Replies (8)
If mr. x falls in definition of relative then no consequence of tax in your hand however if not then since property value is above 50,000/- even though given as gift it will chargeable to capital gain in your hand
to tax as capital gain it should b a Capital asset first na...but it was my stock in trade..
Yes then it will be chargeable at fair market value if value is above 50,000/-
can u pls mention the relevant section for this??
56(2)(vii)(c)
section 56(2)(X)
Plz give answer of dis
Is der tax if flat is transferred to relative and flat hold is stock in trade by builder or landowner
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