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Tax on gifted property

(Querist) 14 May 2012 This query is : Resolved 
If a person sells his urban land(Which is on his own name)and buy new Agriculture land on his children's name (NOT ON HIS OWN NAME). in this case what kind of taxes are applicable?
Thanks & Regards.
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Shonee Kapoor (Expert) 14 May 2012
Capital Gains Tax is applicable.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com
Raj Kumar Makkad (Expert) 14 May 2012
Such person shall not get any benefit of tax as both matters are separate.

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