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?
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Section - 56(iv)
Replies (3)
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
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