| Question And Answer | |
|---|---|
| Subject: | whether 50C applicable to execution of Gift of immovable property |
| Category: | Income-Tax |
| Querist: | Arun Nakrani |
| Answered by: | Research Team |
| Tags: | 50C, Gift, section 50C |
| Date: | January 9, 2024 |
If flat is transfered through Gift Deed to non relative (ex to Registered Trust) , whether provisions of section 50C of Income tax act will be applicable to Doner? Any case law / Citesation if any available please provide
Provision of section 50C is very clear it is not applicable to gift . Section 47 (iii)) also makes it very clear that gift is not transfer . When section 45 is not applicable , provision of section 50C is also not applicable . We are not able to find any reported case laws on the subject .
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