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?
Menu
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
Recent Topics :
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
- Remittance to italy
- Invoice made but goods not sent
- How Do CA Firms Manage Client Document Collection
- How do CA firms manage pending client documents du
- How to find a good CA
- Rcm on rent paid
- Clarify on GST Application
Related Topics :
CAclubindia
