ASSESSEE GET ONE LAND AS GIFT FROM HER FATHER IN LAW IN 2004. THE GIFT DEED WAS REGISTERED. NOW IN 2014 SHE SOLD OUT THE LAND AT RS.8,50,000/-. IS IT CONSIDERED AS CAPITAL GAIN ? IS SHE LIABLE TO PAY INCOME TAX ?
Capital gain on gifted property
ARDHENDU S BISWAS (Finance Professional) (31 Points)
29 December 2014
CAclubindia
