Capital gain tax on gifted property.

Question

My mother in law purchased a plot in 2007 and gifted to her daughter in 2025.Her daughter sold the plot in 2025.I want to ask if there any liability on her  now in 2025 to pay the capital gain tax if yes then what would be base cost price of the plot to be considered while calculating the CGT.

Answer 1

No, the sale you mentioned will be exempt from capital gains tax. For this transaction cost and date of purchase is to be considered as of 2007. Hence, she is not liable to pay the capital gains tax on a property purchased in 2007.

Comments

Thanks for your response can you please refer section which refers to the addition of holding period in case of gifts starting from the doners holding time?

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Sorry dear! we are here to guide you. If you need legal references you should approach FBR or some educational academey.