Question ID :
40382
Income Tax
Dear sir,
One of our client is selling a plot of land and to avoid tax he is telling me that he will gift the property to the purchaser and the purchaser has agreed to pay tax on it under sec 56. However there will be exchage of consideration in the form of Cash. Will there be any liablity on the Seller. Under Income Tax Act
Posted by
VIPIN GUPTA
on
Sep 07, 2019
Filed Under
DIRECT TAXES
not suggested as the transaction is illegal per se
Posted by
SIVADAS CHETTOOR on
Jan 24, 2025