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Gifts

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Querist : Anonymous (Querist)
20 June 2011 Is gifting a land or flat is taxable to given and acceptor?
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CA MANOJ GUPTA

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CA MANOJ GUPTA (Expert)
20 June 2011 if stamp value exceeds 50000 and no consideration is involved then entire stamp value taxable in hands of acceptor provided he does not fall in exceptions given in section 56(2)(vii)

CA MANOJ GUPTA
JODHPUR
09828510543

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