Capital gain
This query is : Resolved
03 July 2013
On 11/07/2005 my assessee and his wife and his father purchased a vacant site of 25 cents out of 2Acres.34 cents in rural area for Amount of Rs.4,05,100/- thereon my assessee showed his 1/3rd share is at Rs.1,35,033/- for 8.3.cents of vacant site in his personal filing and his wife shows his 1/3rd share is at Rs.1,35,033/- for 8.3.cents of vacant site in his personal return of income and balance 1/3rd share kept in his fathers name since he is not the income tax assessee. Now in this 2013 year my assessee along with two members sold 25 cents of land, my question is how to calculate the capital gain.
04 July 2013
SIMPLE LTCG WILL B COMPUTED AND EACH ONE WILL OFFER 1/3 OF GAIN AS HIS INCOME.
CA MANOJ GUPTA
JODHPUR
09828510543
CA MANOJ GUPTA
JODHPUR
09828510543
Message likes :
2 times
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?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
