Capital gain
This query is : Resolved
29 August 2015
Res.Sir A agent who purchase the land of Rs.1crore on his name by making purchase deed. But his contribution is only 25% and other 3 person whose share is 75%, such agent collect the 75% money from other 3 by cash, my question is how to show such adjustment in income tax return.
29 August 2015
The agent A is solely and fully liable for paying the capital gain.
With a very wild stretch of imagination : Has A mentioned this fact of receiving 75% money from 3 others, in the PURCHASE deed?
With a very wild stretch of imagination : Has A mentioned this fact of receiving 75% money from 3 others, in the PURCHASE deed?
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