anybody please suggest if transfer of house from his mother to the client will attract any income tax?also clarify if there is any difference if the house is gifted by the mother to him?
S.Gupta c/o KPS (NA) (187 Points)
08 February 2019anybody please suggest if transfer of house from his mother to the client will attract any income tax?also clarify if there is any difference if the house is gifted by the mother to him?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170847 Points)
Replied 08 February 2019
If the transfer is with consideration i.e. SALE, capital gains tax liability will arise.
If its gift by mother to son, no tax liability.
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