EASYOFFICE

Taxability of persons having joint property

This query is : Resolved 
Profile Image

Profile Image

(Querist)
16 August 2010 2 persons purchased a land with 60:40 Share.
But they didn't specify the area.

On sale of a portion of the above land, whether it is taxable in the hands of individual for their share or in the hands of AOP?

It will be LTCG. So is there any exemption?
Profile Image

Aditya Maheshwari

Profile Image

Aditya Maheshwari (Expert)
16 August 2010 Proportianately taxable in the ratio 60:40 in the hands of the individual.
Profile Image

mohankumar

Profile Image

mohankumar (Querist)
17 August 2010 Please quote case laws, if any, in this regard.
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

Aditya Maheshwari

Profile Image

Aditya Maheshwari (Expert)
17 August 2010 No case law only common sense.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


EasyOFFICE CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links