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Prachi Jindal (CA-Article-Final-Student) (129 Points)

06 October 2010

case 1

A get immovable property from B for Rs 500000 (stamp duty value Rs1000000) on 2-10-2009...he sold the same for Rs 1200000 within a year...plz tell about tax incidence on A and B in IFOS and CG!!!

case 2

Does it make any difference if B is the relative of A.

plz tell...its urgent..

thanks...

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4 Replies

Ashish Tibrewal (job) (80 Points)
Replied 06 October 2010

case 1
in hands of A....500000 is taxble as gift and 200000 is taxble as STCG
in hands of B...500000 shud be under head CG...

case 2
if B is relative of A thn nothing will be taxble in hands of B as gift......

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Prachi Jindal (CA-Article-Final-Student) (129 Points)
Replied 07 October 2010

Originally posted by : Ashish Tibrewal
	case 1 in hands of A....500000 is taxble as gift and 200000 is taxble as STCG in hands of B...500000 shud be under head CG... case 2 if B is relative of A thn nothing will be taxble in hands of B as gift......