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Regarding long term capital gains tax

Tax queries 153 views 2 replies

Mr. X had divided his landed property amongst his two sons named A and B equaly. Now "B" wants to sell his proportionate share of land to his elder brother "A". Wheather "B" will suffer Tax as Capital Gains in this case.

Replies (2)
In this case Mr. B can gift his share to his brother Mr.A and Mr. A can gift the sale value of said part of property to his brother Mr. B as both of the transaction covered under the defination of relative as per income tax act their will be no any tax liabilty in the hand of Mr. B for sale of landed property.
yes...


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