capital gain
This query is : Resolved
02 October 2017
one of my relative transfer his property (building purchased long back approximately 13 years back ) to his eldest daughter for a govt value and he kept the money in fixed deposit account and now he wants transfer the amount to his second daughter as gift .My qtn whether farther may attract capital gain or not pl give me suggestions to avoid longterm capital gain by father
02 October 2017
Since the sum received is for the property, long term capital gains will be attracted
02 October 2017
Father can either purchase/construct a property within 1 year before or two years/within 3 years respectively to save on capital gains
02 October 2017
He may invest in capital gains bonds of NHAI/RECL within 6 months from date of transfer
02 October 2017
Long term gain attracted as property is given for consideration.
02 October 2017
He can invest in some residential property or bonds in specified period to get exemption on same.
03 October 2017
transfer of fixed deposit to second daughter will NOT attract any CAPITAL GAIN.
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