Capital gain implications HUF > Gift to a Son

there is no capital gain on the partition of HUF or in case of gift as they are not transfers as per section 2(47).....at the time of sale of property capital gain will arise in the hands of son and it will be long term capital gain...as in case of gift the period of holding of previous owner is also considered in order to find whether its long term or short term gain

regards,

Sneha

Gift Tax is not prevailing as on date.

Section 56(2) (v) is not applicable in case of gift to son.

Section 47(iii) gift not regarded as transfer.

Section 49(1) (ii) transfer under gift, then cost of previous owner will be the cost for donee.

Exemption cab be availed by son.