Question Reagarding Income tax
Hardik Dave (IPCC and CS Professional(FINAL) Student) (15533 Points)
01 July 2011Hardik Dave (IPCC and CS Professional(FINAL) Student) (15533 Points)
01 July 2011
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 01 July 2011
unless the house is sold, no question of capital gain.
no capital gain, no tax
pawan yadav
(C.A. Final)
(45 Points)
Replied 01 July 2011
If Property has Not Transfer then No Capital gain Arise, and no capital gain tax attracted on Property.
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 01 July 2011
Originally posted by : U S Sharma | ||
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unless the house is sold, no question of capital gain. no capital gain, no tax |
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AGRRED.
Sunshine
(Helping All)
(10575 Points)
Replied 01 July 2011
yes Hardik, Capital gain arises on account of transfer of capital asset...just because of change in value he doesnt have to pay tax...The property must be transferred i.e sold for the question of capital gain to arise...
Mukesh Kumar Singh
(CA-FINAL)
(4094 Points)
Replied 01 July 2011
Originally posted by : U S Sharma | ||
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unless the house is sold, no question of capital gain. no capital gain, no tax |
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Agreed
CA Himanshu Khurana
(Chartered Accountant)
(813 Points)
Replied 01 July 2011
Originally posted by : Sunshine... | ||
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yes Hardik, Capital gain arises on account of transfer of capital asset...just because of change in value he doesnt have to pay tax...The property must be transferred i.e sold for the question of capital gain to arise... |
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C.A SHASHANK GOYAL
(Chartered Accountant)
(362 Points)
Replied 01 July 2011
YES , I DO AGREE WITH ALL OF THE EXPERTS ABOVE THAT HOLDING A PROPERTY IS NOT TH TRANSFER WITHIN THE MEANING OF SECTION 2(47) , SO SINCE BASIC CONDITION OF CAPITAL GAIN THAT IS THERE MUST BE THE ASSET AND TRANSFER DOES NOT FULFILL , SO NO QUESTION OF CAPITAL GAIN ARISE , HOWEVER YOU MAY FALL WITHIN THE AMBIT OF WEALTH TAX LIABILITY.
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 01 July 2011
in this case no capital gain tax
Rup Kumar
(finance manager)
(288 Points)
Replied 02 July 2011
Mr. Hardik you have asked a incomplete question. The message given all above friends are true. However since the question is not complete the answer is can't be completed.
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