Capital gain of gifted property

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  1. sunil godara

    sunil godara New Member

    Dear sir,
    I have a urban agriculture land that is harritery property. i sold that property in Oct.2014 of Rs. 1600000. And for tax exemption u/s 54B i purchased a new urban agriculture land in Nov.2014 of same amount. I give new purchased land to my daughter as gift in may 2015. I want to know tax treatment of that transfer. And also know the tax exemption avail u/s 54B shall be taxable in current year.
     
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