Capital gain
This query is : Open
Supriyo Banerjee
(Querist)
04 May 2013
whether Property given to a person on long term lease basis would be considered transfer for the purpose of Capital Gain Tax?
05 May 2013
As per my view- No
Reason is: Lessee cann't modify the property,
He/ she cann't sale it
There is court judgement which says that sale proceeds of residential house invested in lease property for long term basis is not eligible for deduction prescribed u/s 54.
Reason is: Lessee cann't modify the property,
He/ she cann't sale it
There is court judgement which says that sale proceeds of residential house invested in lease property for long term basis is not eligible for deduction prescribed u/s 54.
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