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Taxability of sale of capital asset to relative
I had inherited land and building from my father in 2012 and 2024 I sold it to my brother for 50 lacs, will the same be exempted from 56(2)(x) and 45 if it is in the form of gift deed
Replies (3)
if it is in form of gift then yes. But your documentation should be of a gift deed only.
Agree with Nikhil Sir
Taxability of sale of capital asset to relative
1. blood relation.
2. execute a gift deed asap.
3. blood relation exempted.
4. own brother exempted
1. blood relation.
2. execute a gift deed asap.
3. blood relation exempted.
4. own brother exempted
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