Upgrad LLM

gifting capital gain amount to relatives

Homemaker

NRI wants to sale the flat in Pune Maharashtra and donate the amount to relatives( father, mother, brother sister). After the sale of flat another property is required to be purchased within a year or to keep the amount in Capital Gain Account. Can I donate Capital Gain Amount kept with Bank to my above relatives and avoid Gift Tax. Should I execute Gift deed for amount in Capital Gain Account in favour of relatives.

 
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One cannot avoid capital gains tax by donating the same to relatives

 
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Lawyer at Supreme Court of India

Sir, 

 

Kindly call CA Karan Chandna at (9871563826) for the opinion .... 

 

Warm Regards 

Kapil Chandna Advocate 

9899011450,9911218741 

https://kapilchandnaadvocate.wordpress.com/

 

 

 
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Consultant

Tax is not an exchangeable commodity. Tax liability cannot be avoided.

 

 
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Consultant & Legal Analyst

I appreciate precise advice of Mr. Jigyasu. Agree with Gandhi Mohan Bharti also.

 

 

 
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Homemaker

I am thankful to Shri Gandhi Mohan Bharati, Adv. Kapil Chandana, Shri Jigyasu, and Adv. Dingra for valuable reply given on the subject.

 
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