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TRANSFER OF PROPERTY BY GRANDFATHER TO GRANDSON
WHAT ARE THE TAX IMPLICATIONS
Replies (4)
ITS INHERITANCE.
NO TAX IMPLICATIONS.
NO TAX IMPLICATIONS.
Transfer of property is in the nature of Gift by Grandfather to Grand Son.
Gift to or from relatives are exempt and hence NO TAX implications.
Gift to or from relatives are exempt and hence NO TAX implications.
How it will affect the capital of Grandson ?
Simply it will increase . Cost will be that of purchase cost of grandfather
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