CAPITAL GAIN
This query is : Resolved
18 March 2009
MR X OWNS BLDG COST OF ACQUISITION RS 5 LACS GIFT THIS BLDG TO HIS SON Y BLDG FECTCHING RENT OF RS 30 PER MONTH WHETHER THE CLUBBING PROVISION WILL ATTRACTED
18 March 2009
Yes, if son is minor.
(Finally, there may be no tax impact; basically clubbing provisions are invoked)
(Finally, there may be no tax impact; basically clubbing provisions are invoked)
18 March 2009
YES
18 March 2009
but sec 64 is only for spouse or daughter in law is there any provision for transfer of property to son also
21 March 2009
As per Sec 64(1A) all income which arises to the MINOR shall be clubbed in the income of his parent. However, there is exemption upto Rs 1500
In the instant case, rent per month is Rs 30 only per month which works out to Rs 360 per annum. Since minor's income in the instant case is less than Rs 1500, there is finally no tax impact
It appears as though query is raised for academic interest
In the instant case, rent per month is Rs 30 only per month which works out to Rs 360 per annum. Since minor's income in the instant case is less than Rs 1500, there is finally no tax impact
It appears as though query is raised for academic interest
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Value of property in capital gain
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
