19 June 2014
If X gets an immovable industrial property as a Gift from his Father. He sells it immediately & purchases another industrial property of same or higher value. Is he liable to pay any Capital gains tax?
20 June 2014
capital gain will pay and indexation cost will applicable if he hold property more than 3 years and indexation use from year when come in his right and in year when make sale and cost use of his father cost. if his holding period less than 3 year then short term capital gain will charge. and pay capital gain tax.
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