Regarding capital gain tax
This query is : Resolved
24 December 2013
one of my client received shares as gift from her uncle, now she wants to transfer those shares as a gift to her mother. Now, my question is what is the cost of shares to her mother.
Is my client is need to pay capital gain tax.
IF cost of uncle is the cost to her mother, plz provide any reference section or case law
Is my client is need to pay capital gain tax.
IF cost of uncle is the cost to her mother, plz provide any reference section or case law
24 December 2013
then cost to uncle shall be cost to her mother.
Message likes :
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25 December 2013
Thank you,can you provide any case law or reference section,need.
25 December 2013
Refer sec 49(1) for more clarification it says cost ot prev owner shall cost to assessee in case of gifts.
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