Dear sir,
If a person buying a urban land of 14 lakh it is necessary to deduct TDS for consideration paid of such person???
NOT APPLICABLE
Sushant Bhosale (74 Points)
28 December 2017
ajay kulkarni
(asst manager)
(22 Points)
Replied 28 December 2017
Dear Dhirajlal Sir,
My father expired 15 yr back, In their name one flat of 20 yr old & We are 3 brothers of legal heir of the property, we sold the flat for 20 lac. can we pay I Tax on the money recd.
Pls reply
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(174880 Points)
Replied 28 December 2017
@ Ajay Kulkarni:
Capital gain over the flat after indexation of COA from 1996 to 2016 is to be calculated.......
All the 3 brothers who have divided the sale value (after any cost of selling) are liable for 33.33% of the LTCG thus arrived. The tax can be saved by the equivalent of amount in CG bonds u/s. 54EC.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(174880 Points)
Replied 28 December 2017
@ Ajay Kulkarni:
Capital gain over the flat after indexation of COA from 1996 to 2016 is to be calculated.......
All the 3 brothers who have divided the sale value (after any cost of selling) are liable for 33.33% of the LTCG thus arrived. The tax can be saved by investment of equivalent of amount in CG bonds u/s. 54EC.
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
CAclubindia
