Menu
Gift tax
Hi, I have query regarding Capital Gain Tax Actually my father have house at nashik and my father want to sale it at Rs.15 lk which was built in F.Y 1984at 50000. My Father want to give money to me .How much tax my father have to pay.
Replies (1)
Gift of money from your father to you is not liable to tax in hands of you.
As per section 56 any gift received from relative is out of purview of secton so. not liable tax in hands of receipnt.
your father is liable for capital gain tax after taking benefit of indexation.
As per section 56 any gift received from relative is out of purview of secton so. not liable tax in hands of receipnt.
your father is liable for capital gain tax after taking benefit of indexation.
Recent Topic
- TDS data mismatch with SFT
- Resale of under construction Residential Flat part
- What would be my Salary
- Damage good
- INCOME TAX RETURN
- Form 10E doubt
- LTCG on property sale after 24jul2024
- Should we mention NET INCOME or GROSS INCOME in i
- CRYPTO - SETOFF
- WBAAR: No Reclaim of Reversed ITC under Section 16
Related Topics
CAclubindia
