Capital gains

This query is : Resolved

ANSHU JAIN (Querist)
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06 December 2014 A lady aged 90 Years transferred her property to her grand daughter who is a minor by drawing a sale deed. Now whether capital gains is required to be calculated upon such a transfer?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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06 December 2014 If a sale deed has been executed then capital gain will arise.

If a gift deed has been executed then capital gain will NOT arise.

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ANSHU JAIN

ANSHU JAIN (Querist)
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06 December 2014 Can we say that the sale deed is void as a contract with a minor is not a valid contract?. Since her grand daughter is a minor so can we argue on the same?

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