02 July 2009
i have a land comming from forefather times. Now i sold that land and distributed 50% to one more brother and each had given 20% to mother. Will the income will calculate under capital gain?
can expert suggests me.
note: i need software of I/E or P/L & balance sheet can anyone help me in this issue.
02 July 2009
Both the Brothers should calculate Capital Gain/Loss, if any.Indexation will be provided from the date on which you got the property rights. Mother will not be charged a anything, treating it as gift from son's
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