i had LT Capital Gain on sale of my House Property, i'd Invested the LTCG in New House by claiming exmption U/s 54. later i'd transfer my New HP to my Brother by way of gift 47(iii), there is no transfer as such as per 47(iii). whther there is any CG?
Before answering please note this points:
in order to claim exemption I shud nt TRANSFER the New house Property wid in 3 years from date of purcahse.
47 ( iii) any asset transfer by way of gift shall not be regarded as transfer.
If my Brother sold it, shall i liable to pay tax as deemed owner u/s 27?
CAclubindia
