30 December 2013
hello , i hav an query regarding capital gains..... my client had property disput with his brother after the demise of their father ...and now the court has settled this matter .....in settlement the assesse has acquired one property of which 1/3 share each he will give to his brother and mother. and his brother has acquired another property of which 1/3 rd share he will give to the assessee by cheque....some amt he will receive on account of FDRs of his father ... now my question is wether this share of property and share of FDRs of his father PLZ SOLVE MY QUERY ...ITS URGENT
21 January 2014
but i hav consulted one ca ....he told me that if the 1/3 rd share is been received in the form of money it will be liable to tax .....only the amt of fdrs is exempt.....so what is coreect?.....can u give me the section of capital gains or any refference of case law where they hav clearly described what to be included or excluded to think in this matter
CAclubindia
