Hadi Husain Husaini (IDT Consultant) (99 Points)
26 July 2013Husband has invested in a mutual fund say 10 lacs
Both husband and wife were living abroad
The mutual fund is a joint account in both husband and wife
In P.Y 2012-13 the mutual fund was sold and all the money was invested in wife's demat account
If there is a stcg of 5 lacs, whose liability is it?
Gowtham
(Student CA IPC / IPCC)
(119 Points)
Replied 26 July 2013
In the hands of the receiver of that gain as per bank statement becoz both are non resident
Hadi Husain Husaini
(IDT Consultant)
(99 Points)
Replied 27 July 2013
They "were living abroad", but now they are resident
CAclubindia
