Ltcg on sale of resi. house by nri
This query is : Resolved
11 February 2012
House was purchased (from NRE A/c of NRI son) by the father in his name. On Father's death, the house was sold and the funds to be deposited in NRE A/c. What is the tax applicability on the CG?
12 February 2012
on father's death the house is inherited by son... so he is new owner
an on sale of the sAME CAPITAL GAIN TAX WOULD ARISE
an on sale of the sAME CAPITAL GAIN TAX WOULD ARISE
13 February 2012
Yes Mr. Vikas,
It Doesn't matter that house was purchased from NRE A/c or the Money is transfered to NRE A/c, because Tax Implication is on CAP Gain Arising on House Purchased and Sold India. The issue is not about the source from where house was purchased but CAP GAIN arising in India due to sale of HOUSE.
It Doesn't matter that house was purchased from NRE A/c or the Money is transfered to NRE A/c, because Tax Implication is on CAP Gain Arising on House Purchased and Sold India. The issue is not about the source from where house was purchased but CAP GAIN arising in India due to sale of HOUSE.
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
- Applicability
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- TDS NUMBER SURRENDER
- Gst Sales of FY 2023-24
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- Legal heir raised refund , but refund issued to the closed account of deceased.
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- 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?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
