27 June 2014
one of my relative had obtained a land at the cost of rs-900000,for making payment, first he transferred rs 300000 each to the bank account of his 3 major sons,then they (3 major sons) made the payment.now he wants to transfer that property for rs 1350000.in that case if the capital gain is payable by the father or it is chargeable in the hands of three major sons so as to claim basic exemption against such LTCG.
CAclubindia
