Father bought a house in 2016 for Rs. 10 lacs. He gave the property to his NRI son in 2017 via Settlement Deed (mentioning out of natural love and affection). Son sold the property in 2023 for Rs.10 lacs. What would be long term capital gain in this scenario, if any? Thanks in advance.
any money or property given to blood relation without consideration considered as gift no gift tax , when sold the buy value with indexsation considered as purchased price for long term capital gain ( 10Lakhs + indexsation) and as you said 10Lakhs is sale price means sale price - buy value with indexsation= long term capital loss
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