Transfer of capital asset under a gift, will or an irrevocable trust - (New) Section 70(1)(b) / (Old) Section 47(iii)

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....Transaction not regarded as transfer Transferor Transferee Capital asset  What is the cost in the hands of transferee  Period of Holding (PoH) 70(1)(b) • Capital asset by • an individual or • a Hindu undivided family, • under a will or a gift or an irrevocable trust; HUF Any person (member of HUF) Any ca....

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....operty acquired it, as increased by the cost of any improvement incurred or borne by the previous owner or the assessee. POH of previous owner shall also be considered. Exception: This rule shall not be applicable, if the following conditions satisfied: • Tax payer is an employee • he has been allotted (directly/indirectly) shares/debentures/warrants by the emplo....