I have doubt regarding new amendment made in A. Y. 2010-11, as per amedment made in Section - 56(iv), immovable property received without consideration as a gift will be taxable and charging amount will be stamp duty value of the property. I want to know whether it is taxable even if it is transfer to the relative?
It is not taxable if transfer is to relatives.
Fatima we have to read Section 56 (iv) with the gift exemption, am i right na?
Yea, u r rite
O P Bagla & Co LLP
New Delhi
CA Inter
View Details
R P S K & Associates
Nashik
CA Inter
View Details
CAclubindia
