L.t.c.g.
This query is : Resolved
15 December 2012
Mr."A" has purchased a residential building before 10 years in the name of himself and her wife jointly at Rs. 10,00,000/-. The payment of Rs. 10,00,000/- was made by Mr. "A" himself. The residential property is appearing in the Balance sheet of Mr."A". The said property was sold at Rs. 20,00,000/-. Now Mr."A" wish to invest under capital gain account scheme, 1988. Now my question is :
Whether Mr."A" should invest in his name OR in joint name (i.e. in the name of Mr. "A" and her wife. Please note that the property is in joint name.
Whether Mr."A" should invest in his name OR in joint name (i.e. in the name of Mr. "A" and her wife. Please note that the property is in joint name.
15 December 2012
Hi
Ideally investment to be made in the name of First persons name, you can also invest in joint name.
Thanks
Ideally investment to be made in the name of First persons name, you can also invest in joint name.
Thanks
16 December 2012
Capital gain will be in the hands of a so investment shall be in the name of A, but it can be on joint name also.
16 December 2012
FOR SAFEGUARD INVEST IN JOINT NAMES.
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?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- 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?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
