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.
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Regarding long term capital gains tax
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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