Taxability of third party ipo application
This query is : Resolved
23 November 2023
Suppose Mr. A have given his money to his friend Mr. B for ipo application on codition that Mr. B will return entire sale proceed to Mr A after deducting some commission, then capital gain is taxable in whose hands? and if capital gain is taxble in Mr B's hand then does the sale proceed received by Mr A is taxable or expemt ?
24 November 2023
Capital gains is taxable in B's hands.
Exempt in A's hands upto 50,000 considered as gift.
Exempt in A's hands upto 50,000 considered as gift.
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