Nishant (Assistant) (1095 Points)
09 September 2023I have Residential house property. I'm sole owner of this property. Now I want to add my spouse name as 50% co owner in home Aggreement.
I want to know Capital Gain tax implications on my hand.
If applicable then what will be sale consideration and cost.
I'm aware that 56(2)(x) not apply in wife's hand as gift received from relative.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 09 September 2023
Nishant
(Assistant)
(1095 Points)
Replied 10 September 2023
Yes....My question is what is the implications of Capital Gain. Right now I'm 100% owner of house. If I add wife as co owner then I'll have 50% share.
Will it amount to transfer even though no consideration received?
RITESH KUMAR BHAGAT
(Student)
(110 Points)
Replied 14 September 2023
Nishant
(Assistant)
(1095 Points)
Replied 14 September 2023
In case of Gift Deed recipient is not liable under IFOS but will it amount to transfer in My hands? as I'm transferring 50% share to spouse. won't it attract capital gain?
CAclubindia
