capital gain
This query is : Resolved
15 January 2009
Hi all
if i am selling a gifted land what should I do apart from claiming exemption u/s54, in order to avoid the capital gain tax.
Please reply asap.
Thanks
if i am selling a gifted land what should I do apart from claiming exemption u/s54, in order to avoid the capital gain tax.
Please reply asap.
Thanks
15 January 2009
Gift also considered as a mode of transfer u/s 47.In that case cost to the previous ower be considered as cost of acquisition to the assessee.if you sell the lannd also come within the tax net of capital gain.You can claim excemption u/s 54 to avoid the burden of tax.
15 January 2009
Gift also considered as a mode of transfer u/s 47.In that case cost to the previous ower be considered as cost of acquisition to the assessee.if you sell the lannd also come within the tax net of capital gain.You can claim excemption u/s 54 to avoid the burden of tax.
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