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.
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Gift Treatment
Replies (3)
Quick Summary
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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