Section - 56(iv)

Jolly (article) (49 Points)

16 January 2010  

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?