logo

Give us your phone number and email
we will send you the details.

By contacting this business you agree to follow all our terms and conditions mentioned here.

Verify OTP

Please check your email for the OTP, if not received please refresh the page and try again, also check your spam folders.


Upload Resume to create profile
Email: |
Create Job Alert

Query: When a Gift of immovable property is chargeable to tax

Category: Income Tax

Answer: A Gift of immovable property is chargeable to tax if following conditions are satisfied: - vi. The immovable property should be a prescribed asset. The list of Gifted Prescribed immovable property for tax chargeability consists of land or building or both. vii. The immovable property should fall in definition of capital asset as per section 2(14) of income tax act like it should not be a agricultural land. viii. The prescribed movable asset should be received by an Individual or HUF. ix. The prescribed movable asset should be received without any consideration. x. The aggregate stamp duty value of those gifted prescribed immovable properties received by an Individual or HUF in a financial year exceeds Rs. 50000. xi. Gift is not received from any exempted list of person or occasion.

Date Posted 29-Dec-2019
Posted By Kumar Prakash
Views: 918



Related Queries

Any idea up to when new Income tax forms are expected

Accounts | Views: 1365 | Comments: 1

Up to when we can expect the new Income tax forms for FY 2019-20.


Date Posted 26-Apr-2020
Comment / Read More

Any idea up to when new Income tax forms are expected

Audit | Views: 1365 | Comments: 1

Up to when we can expect the new Income tax forms for FY 2019-20.


Date Posted 26-Apr-2020
Comment / Read More

Any idea up to when new Income tax forms are expected

Income Tax | Views: 1365 | Comments: 1

Up to when we can expect the new Income tax forms for FY 2019-20.


Date Posted 26-Apr-2020
Comment / Read More

Any idea up to when new Income tax forms are expected

GST | Views: 1365 | Comments: 1

Up to when we can expect the new Income tax forms for FY 2019-20.


Date Posted 26-Apr-2020
Comment / Read More

Any idea up to when new Income tax forms are expected

Corporate Law | Views: 1365 | Comments: 1

Up to when we can expect the new Income tax forms for FY 2019-20.


Date Posted 26-Apr-2020
Comment / Read More

Any idea up to when new Income tax forms are expected

Finance | Views: 1365 | Comments: 1

Up to when we can expect the new Income tax forms for FY 2019-20.


Date Posted 26-Apr-2020
Comment / Read More

Any idea up to when new Income tax forms are expected

Ind- AS/ IFRS | Views: 1365 | Comments: 1

Up to when we can expect the new Income tax forms for FY 2019-20.


Date Posted 26-Apr-2020
Comment / Read More

Any idea up to when new Income tax forms are expected

Shares | Views: 1365 | Comments: 1

Up to when we can expect the new Income tax forms for FY 2019-20.


Date Posted 26-Apr-2020
Comment / Read More

Any idea up to when new Income tax forms are expected

Mutual Fund | Views: 1365 | Comments: 1

Up to when we can expect the new Income tax forms for FY 2019-20.


Date Posted 26-Apr-2020
Comment / Read More

Any idea up to when new Income tax forms are expected

Investments | Views: 1365 | Comments: 1

Up to when we can expect the new Income tax forms for FY 2019-20.


Date Posted 26-Apr-2020
Comment / Read More