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tax query ...help please
a woman got 22 lakhs by sale of her house. she wants to transfer that 22 lakhs to her daughter . Daughter already got 11 lakhs ( which doesn't count in 22 lakhs). so how to transfer 22 lakhs without tax or least tax payment?
Replies (1)
She will have to pay tax for Capital Gain for sale of her house. She can give 22 L to her daughter as a gift without any tax implication. It is advisable that proper gift deed should be executed.
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