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gift related
if gift received as stock in trade then which sec is applicable and what is relevant provision?
Replies (2)
Immovable property received as stock in trade by gift in not taxable neither in the hands of Transferor nor transferee.u/s 56(2)vii
if it's received from your relatives then it's exempted else chargeable to tax. either it's stock in trade or not irrelevant
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