Capital gain on inherited income
This query is : Resolved
12 February 2013
If a person has a house in his hand and he sold the house in current year and transferred the income to his sons, my que is
will the income be taxable in the hands of sons or father and how? Pls reply fast
will the income be taxable in the hands of sons or father and how? Pls reply fast
12 February 2013
Monika,
the income will be taxable in the hands of the father and not of the son. this is so since, this is application of income and not diversion.
the income is not taxable in the hands of the son since, gift received from a relative is exempt.
- Ankit
the income will be taxable in the hands of the father and not of the son. this is so since, this is application of income and not diversion.
the income is not taxable in the hands of the son since, gift received from a relative is exempt.
- Ankit
Message likes :
1 times
12 February 2013
Thanks Sir, Pls reply to my another que that if the employees of an automobile co., book tickets thru an air travel agent,can the co. take credit of service tax on ticket & bill both or only on bill, pls reply fast
12 February 2013
Dear Monika,
According to me, it can take the credit on both the service tax i.e. the one charged on the ticket as well as that by the agent.
if you have any other query, you can send me a mail on
ankitanjaria@gmail.com
According to me, it can take the credit on both the service tax i.e. the one charged on the ticket as well as that by the agent.
if you have any other query, you can send me a mail on
ankitanjaria@gmail.com
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Confusion around Form 26QB fields
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Tds on building rent monthly
- Should I report my US salary for January, February, March in Schedule FA?
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
