QUERY PCC TAX..

AAYUSH BANSAL (ca aspirant) (92 Points)

27 March 2010  

 

friends i have a problem pls help...

 

mr. A purchased a house on 1-4-09 for rs 1,00,000 on 11-11-09 he forfeited 10,000 from B... on 1-1-2010 he gifted this house to his son C .. on 1-2-2010 C forfeited 10,000 from D... on 1-3-2010 he sold to E for rs 2,00,000...

what is the tax implication for A and C...