Regarding loan

respected all members
Mene ek shop sale kiya he 600000
ab vo 600000 mere uncle ko trasnfer kiye he to please suggest me loan show Kar sakte he ki gift.
thank u advance
Replies (5)
Quick Summary
A user sold a shop for £600,000 and transferred the money to their uncle. They are seeking advice on whether this should be declared as a loan or a gift. The consensus is that it should be shown as a loan to avoid the uncle incurring a taxable gift liability. The sale of the shop itself is also taxable under Capital Gains Tax.

Apko loan show karna hoga kuki agar apne ye gift show kiya toh ye apke uncle ke liye taxable ho jaegi.
But sir uncle to relative me aate he na
Uncle relative apke liye hai...lekin yaha gift vo receive karenge toh hume unke point of view se dekhna hoga and as per income tax act app unke relative nahi ho that means agar vo apse gift receive karenge toh vo taxable hoga.
Sale of shop 600000 taxable hoga under Capital gain
Thank u sir 👍

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