Sale Of Land (Capital Gains)
This query is : Resolved
17 May 2008
One of my relative got a land for 60000 i do not know the exact year of purchase but he died and his son took over the property and sold it for 26 lakhs this year. He has received 50000 ,5 lakhs , 4.5 lakhs and the remaining is yet to be received, the sale deed is to be executed in another 15 days or so. What will his tax liability be and what should he do to avoid this liability.
Please help.
Please help.
18 May 2008
1. What is the nature of land? Agricultural
or urban?
2. Would the purchase by the deceased would
have been prior to 1981?
3. What is he proposing to do with the
proceeds?
or urban?
2. Would the purchase by the deceased would
have been prior to 1981?
3. What is he proposing to do with the
proceeds?
19 May 2008
when he died
remaining are same as above S.Srinivasaraghavan
remaining are same as above S.Srinivasaraghavan
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
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- Defective Return - Tds on advance
- Income Type for interest from government bonds
- Not a CA , can we prepare balance sheet
- TCS ON SOFTWARE SALES
- Is receivable or recoverable same thing
- Bifurcation of prepaid expenses
- What is meaning of cumulative method of interest
- TDS - Form 26QB - Installment - Final payment Query
- ITR 6 Schedule CFL and UD Issues
- Gstr 9 2023-24
- GSTR-9 HSN Summary and Credit Note without item
- 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
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
