Hi
My Client & his wife have purchased a JOINT Property, registered in Joint name, which has been paid completely by my Client himself. Subsequently The Property was sold and the whole consideration was received by my client and he has paid tax accordingly.
Now the Dept has issued notice asking the client's wife to pay HER share of tax. Kindly inform me how to proceed?
Regards
| Originally posted by : E Narasimhan | ||
 |
Hi My Client & his wife have purchased a JOINT Property, registered in Joint name, which has been paid completely by my Client himself. Subsequently The Property was sold and the whole consideration was received by my client and he has paid tax accordingly. Now the Dept has issued notice asking the client's wife to pay HER share of tax. Kindly inform me how to proceed? Regards |
 |
refer to the cost of aquisition paid by wife in the previous years, if the cost is paid by her self income, then she has to pay tax accordingly,
to save the situation, make a gift of the land to husband on the date prior to sale,
Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
View Details
Hema Yashwanth & Associates
Chennai
B.Com
View Details
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
View Details
Subrahmanyam & Sivudu CA Firm
Hyderabad
CA Inter
View Details
Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
View Details
Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
View Details
CCI
Pro
CAclubindia
