whether a deemed capital gain or not
Prajakta kadam (8 Points)
19 September 2017Prajakta kadam (8 Points)
19 September 2017
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 19 September 2017
CA Raksha Shree
(Associate Consultant)
(421 Points)
Replied 19 September 2017
If the asset is a capital asset such as land, building or jewellery, then capital gain arises on the basis of stamp duty value in case of building and market value in case of jewellery. If he transfers anyother asset, value exceeding Rs.50000, then gift tax will arise.