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Gift Treatment

Others 172 views 3 replies
For ex: Mr.A aged 35 yrs gifted an amount of 1,50,000 to his mother through account transfer. His mother used that amount for purchasing a land. On sale of land tax liability will arise in the hands of mother. Am I correct????? or any tax liability will arise in the hands of Mr.A???
Mr.A has no other sources of income in that PY.
Replies (3)
Yes it is taxable under the hands of your mother
Taxable in the hands of Mother
In the hands of your mother


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