if there is a property which is co-owned. if 1 co-owner transfered his share to another co-owner then what will be the tax treatment?????
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income from house property
Replies (2)
- TAXABLE IN THE HANDS OF TRANSFEROR.
- THE TRANSFEREE IF HE HAS SOME LTCG , THEN HE CAN CLAIM EXEMPTION U/S 54, AS PURCHASE OF PROPERTY FROM CO- OWNER IS ALSO ELIGIBLE SUBJECT TO OTHER CONDITION AS SPECIFIED IN SEC. 54 .
| Originally posted by : Manmohan | ||
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TAXABLE IN THE HANDS OF TRANSFEROR. THE TRANSFEREE IF HE HAS SOME LTCG , THEN HE CAN CLAIM EXEMPTION U/S 54, AS PURCHASE OF PROPERTY FROM CO- OWNER IS ALSO ELIGIBLE SUBJECT TO OTHER CONDITION AS SPECIFIED IN SEC. 54 . |
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