Admission of long term capital gains
This query is : Resolved
Padmanabha Rao
(Querist)
15 December 2012
Mr. A has received his fore father's property through a will. A expired without any children and as such the entire property was devolved on his brother Mr.B. B's children have disposed the property during the financial year 2011-12. The quedstion is what is the exact legal position regarding admission of long term capital gain income in the status of individual or HUF.
Mohit Naithani
(Expert)
15 December 2012
Period of holding is to be calculate from the date of actual purchase till the date of actual sale.
Actual Purchase is either by previous owner.
In ur case date of purchase is should be calculate from the date when Mr. A's fore father bought it.
Actual Purchase is either by previous owner.
In ur case date of purchase is should be calculate from the date when Mr. A's fore father bought it.
Padmanabha Rao
(Querist)
24 December 2012
Please clarify the capital gains income requires to be admitted whther, inthe status of HUF or Individual
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