Rs 37L from agri land sale as gift: Taxation?
Two sisters received Rs 37 lakh each from the sale of agricultural land in their hometown. The question arises: will the recipient sister be required to pay capital gains tax on the gift she gave to her sibling? According to Asif Javed, Founder of ApkiReturn, the tax liability depends on the classification of the sold agricultural land and not on how the proceeds are later utilized or gifted.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
