13 July 2015
If it is without consideration it will be treated as gift and no capital gain will arise. With consideration it will be treated as capital gain.
14 July 2015
if son than sold the property after 6 month than for son weather it is a long term gain or short term gain? if long term gain than what will be the cost of acquisition to be taken ? the date mother purchased it or date when son got the Gift
14 July 2015
It is a long term capital gain for the son. The date of acquisition will be mother purchased date and the cost of acquisition is what it costed to mother.
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