Capital gain
This query is : Resolved
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
(Expert)
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...
Sales consideration 45lacs
Less: indexed/cost of proportionate house...
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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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15 July 2010
Yes, Capital gain arise
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