https://www.taxtmi.com/manuals?id=4138 Section 47 treats transfers by gift and by will as non transfers for capital gains: the transferor does not incur capital gain, while a subsequent disposal by the recipient gives rise to capital gain computed using the previous owner's cost of acquisition and holding period. Separate provisions address the taxability of gifts in the hands of the recipient. en-us Mon, 25 Dec 2023 15:27:00 +0530 Thu, 11 Jan 2024 14:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=4138 Section 47 treats transfers by gift and by will as non transfers for capital gains: the transferor does not incur capital gain, while a subsequent disposal by the recipient gives rise to capital gain computed using the previous owner's cost of acquisition and holding period. Separate provisions address the taxability of gifts in the hands of the recipient. Manuals Income Tax Mon, 25 Dec 2023 15:27:00 +0530 https://www.taxtmi.com/manuals?id=4138