Capital Gain

This query is : Open

sanath (Querist)
Follow

07 May 2010 The assessee, upon buying a house property gifts a small stake to his wife.
What is the consequence on sale of the property in the hands of the assessee.
What happens to the proportion of Capital gain that arises in respect of the wife's stake.

Radhe Krishna

Manek Amit

Manek Amit (Expert)
Follow

07 May 2010 The assessee has given stake of houseproperty to his wife so by sale of property full capital gain will be chargeable in hands of assessee only as wife's stake will be clubbed in the hands of husband only as husband i. e. assessee has given the property to his wife without any adequate consideration...
so full capital gain chargeable in assessee's hand only...

sanath

sanath (Querist)
Follow

07 May 2010 Section 64 reads 'Where an asset(other than house property) is transferred by individual to spouse...

SO House property transfer is specifically excluded from Sec.64

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Suman Lata Saraswat

S D Kannan

suresh kotte

S N Unni

Anu Raj

Subscribe Now

Capital Gain

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

Accountant

GST CONSULTANCY

CA Final

GST CONSULTANT