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Capital gain

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Sharath (Querist)
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15 July 2010 Assessee recived a sum of Rs.45lacs from his brother for taking the ownership of a housing property of his deceased facther. is this treated as capital gain or not

CA Sanat Pyne

CA Sanat Pyne (Expert)
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15 July 2010 yes it will bw taxable. But you have to find out the exact capital gain ampount.

Sales consideration 45lacs
Less: indexed/cost of proportionate house...

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srinath (Expert)
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15 July 2010 ya this s transfer u/s 2(47). this is extinguishment or relinquishment of rights in the property

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CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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15 July 2010 Yes, Capital gain arise

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