Capital gain on gift
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 April 2017
Sir/ Madam,
One of my relative received a property as a gift from her parents. She sold it in the same financial year in which she received the property. Is she liable to pay the capital gain tax? Please suggest me a solution..
Regards,
Thooya
One of my relative received a property as a gift from her parents. She sold it in the same financial year in which she received the property. Is she liable to pay the capital gain tax? Please suggest me a solution..
Regards,
Thooya
12 April 2017
Yes she is liable for capital gains tax. as it is the property gifted, the cost of acquisition will be the cost of purchase of parents and indexation shall be given from the year in which she became the owner of such property by gift.
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 April 2017
Thank you very much sir..
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