A assesse gives a gift of office premises to a assesse who was a tenant beforehand. he is a non-relative of the owner of the property. What are the income tax liability for the person who received the gift, if any?
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Gift to non-relative
Replies (2)
Entire Transfer cost of Office premises shall be liable to tax.
regards,
ratan
Cost to the previous owner less any consideration paid shall be liable to the Capital Gain
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