Capital gain
This query is : Resolved
07 July 2014
I m student and till now I have only annual income below 200000 through tuition income.My father had purchased land for me about 6 months ago . Now he has sale that land and take sale consideration in my bank account . I m worried about that is there any capital gain arise on my part ?? If yes should I invest in any form refer in sections 54 of capital gain to claim exemption ..plz suggest me and answer will be appreciable..
07 July 2014
Plz give your valuable time to my query.
08 July 2014
If he had purchased on your name then Capital Gain would be taxable in your hand as you were owner of said property.
No, you can not claim exemption u/s 54EC & 54 F as asset held for less than 36 months.
No, you can not claim exemption u/s 54EC & 54 F as asset held for less than 36 months.
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
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
