capital gain
This query is : Resolved
14 July 2011
I have sold my land . As per deed 1/3rd share is of mine. but all the sales amounts were deposited in my bank account. what is the long term capital gain tax
14 July 2011
you did not mentioned the way of distribution of 2/3 share ........ ( maybe you are holding power of attorney from other members)
if to be distributed in immediate future by banking channel, then liable for 1/3 capital gain otherwise 100% LTCG tax liability is with yourself.
if to be distributed in immediate future by banking channel, then liable for 1/3 capital gain otherwise 100% LTCG tax liability is with yourself.
15 July 2011
you are liable for capital gains for 1/3 only and your other co-owners also offered their share of capital gains then no issue.
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