LIVE Online Course on NDPS by Riva Pocha and Adv. Taraq Sayed. Starting from 24th May. Register Now!!
LAW Courses

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Income tax for settlement deed

(Querist) 19 December 2018 This query is : Resolved 
Hi - If I get a non-residential plot from my father through a settlement deed, is there any short term or long term income tax implication?

Thanks,
Partha
kavksatyanarayana (Expert) 19 December 2018
You have to pay Gift tax. consult local CA.
Kumar Doab (Expert) 19 December 2018
You may also post at LCI groupwebsite CAClubindia
Suhail A.Siddiqui (Expert) 20 December 2018
If it is family sattlement then there's no capital gain tax.
ramaraju ramaiah (Expert) 20 December 2018
if it is family stttelment deed no capital gain tax if it is barter system of settelment it comes under gift. Any how gift made to son is not taxable but source should be proved by father otherwise father will pay income tax under other source of income
Partha (Querist) 21 December 2018
Thanks for the pointers and answers.


You need to be the querist or approved LAWyersclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :





Post a Suggestion for LCI Team
Post a Legal Query