Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 July 2013
MY MATERNAL GRANDMOTHER SOLD HER HOUSE LAST YEAR IN WHICH SHE WAS RESIDING AND RETURN WAS FILED ACCORDINGLY.
THIS YEAR HER BROTHER SOLD HIS HOUSE IN WHICH HE WAS RESIDING BUT THE DOCUMENTS OF THE HOUSE SHOWED THE NAME OF ALL BROTHERS AND SISTERS DUE TO WHICH MY MATERNAL GRANDMOTHER GOT SOME SHARE. I WANTED TO KNOW HOW TO SHOW IT IN INCOME TAX RETURN AND WILL THE AMOUNT RECEIVED BE TAXABLE?
THIS YEAR HER BROTHER SOLD HIS HOUSE IN WHICH HE WAS RESIDING BUT THE DOCUMENTS OF THE HOUSE SHOWED THE NAME OF ALL BROTHERS AND SISTERS DUE TO WHICH MY MATERNAL GRANDMOTHER GOT SOME SHARE. I WANTED TO KNOW HOW TO SHOW IT IN INCOME TAX RETURN AND WILL THE AMOUNT RECEIVED BE TAXABLE?
15 July 2013
By applying a proper computation of sold property value, using index.. And there is gain, tax shall be applicable on amount on cap. Gain.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
15 July 2013
I dont have any figures of the property so in order to get ded. u/s 54 will have to deposit all the money recd. in capital gain account?
18 April 2017
Very old query need to be closed now
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