Question ID : 32772

Long term /Short term capital Gain

Mr. X purchased a House property in June 1990 and Gifted to Mr. Y (his real brother) in June 2018 Now in Aug,2018 he sold that Property and invested the entire capital gain in new property . whether the Capital Gain will be considered as Long term capital gain in hands of Y and is he would be entitle to exemption u/s. 54

posted by SANDEEP KAPOOR on Aug 17 2018 12:00AM