SALE PROPERTY CAPITAL GAIN
This query is : Resolved
13 July 2021
bother is joint owner of property .some dispute between brother .one bother wanted to remove his bother name from the agreement given compensation on the basis ratio as per agreement .so i want to know that how to calculate capital gain in this case .
13 July 2021
Capital gain calculation needs to be done for the brother who is selling his portion of property to the other. In such case sale consideration will be the compensation received. Then cost of acquisition and improvement has to be claimed proportionately corresponding to his share of property. If period of holding such immovable property is more than 24 months, then indexation of the such values will be calculated and considered to arrive at the capital gain/ capital loss.
27 November 2021
Adding a point, if the basis of agreement is gift, no tax liability.
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