Capital gain
This query is : Resolved
07 July 2014
I m student and till now I have only annual income below 200000 through tuition income.My father had purchased land for me about 6 months ago . Now he has sale that land and take sale consideration in my bank account . I m worried about that is there any capital gain arise on my part ?? If yes should I invest in any form refer in sections 54 of capital gain to claim exemption ..plz suggest me and answer will be appreciable..
07 July 2014
Plz give your valuable time to my query.
08 July 2014
If he had purchased on your name then Capital Gain would be taxable in your hand as you were owner of said property.
No, you can not claim exemption u/s 54EC & 54 F as asset held for less than 36 months.
No, you can not claim exemption u/s 54EC & 54 F as asset held for less than 36 months.
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